TeraWulf (NASDAQ:WULF) Shares Down 5.3% - Here's What Happened

Shares of TeraWulf Inc. (NASDAQ:WULF - Get Free Report) traded down 5.3% on Tuesday . The company traded as low as $3.28 and last traded at $3.29. 5,143,647 shares were traded during trading, a decline of 81% from the average session volume of 26,492,325 shares. The stock had previously closed at $3.47.

Wall Street Analyst Weigh In

Several equities analysts have commented on WULF shares. Northland Securities reaffirmed an "outperform" rating and issued a $10.00 price target on shares of TeraWulf in a report on Tuesday, December 24th. Keefe, Bruyette & Woods started coverage on TeraWulf in a research note on Wednesday, January 8th. They issued a "market perform" rating for the company. Atb Cap Markets upgraded shares of TeraWulf to a "strong-buy" rating in a research note on Sunday, January 5th. Cantor Fitzgerald restated an "overweight" rating and issued a $11.00 price objective on shares of TeraWulf in a research note on Monday, January 6th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $9.50 price objective on shares of TeraWulf in a report on Monday, January 13th. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, TeraWulf presently has a consensus rating of "Buy" and a consensus price target of $9.50.

TeraWulf Trading Down 7.2 %

The stock has a market capitalization of $1.04 billion, a P/E ratio of -13.60 and a beta of 2.70. The firm's fifty day moving average is $4.23 and its 200-day moving average is $5.43.

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TeraWulf (NASDAQ:WULF - Get Free Report) last posted its earnings results on Friday, February 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.04). The firm had revenue of $35.00 million during the quarter, compared to the consensus estimate of $37.43 million. TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The company's quarterly revenue was up 50.2% compared to the same quarter last year. Equities research analysts expect that TeraWulf Inc. will post -0.17 EPS for the current year.

Institutional Trading of TeraWulf

Several large investors have recently made changes to their positions in the business. Rosenberg Matthew Hamilton bought a new position in shares of TeraWulf in the fourth quarter valued at about $32,000. FMR LLC lifted its position in shares of TeraWulf by 22.0% during the third quarter. FMR LLC now owns 7,803 shares of the company's stock worth $37,000 after purchasing an additional 1,408 shares in the last quarter. CoreCap Advisors LLC grew its stake in shares of TeraWulf by 67.9% during the fourth quarter. CoreCap Advisors LLC now owns 7,554 shares of the company's stock valued at $43,000 after purchasing an additional 3,054 shares during the last quarter. Hodges Capital Management Inc. acquired a new stake in shares of TeraWulf in the third quarter valued at approximately $47,000. Finally, Stifel Financial Corp bought a new position in TeraWulf in the 3rd quarter worth approximately $47,000. Institutional investors own 62.49% of the company's stock.

About TeraWulf

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. The company develops, owns, and operates bitcoin mining facilities in New York and Pennsylvania. It is also involved in the provision of miner hosting services to third-party entities. The company was founded in 2021 and is headquartered in Easton, Maryland.