TeraWulf (NASDAQ:WULF) Trading 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.

Analysts Set New Price Targets

Several research firms have commented on WULF. Atb Cap Markets upgraded TeraWulf to a "strong-buy" rating in a research report on Sunday, January 5th. B. Riley lifted their target price on shares of TeraWulf from $8.00 to $10.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Northland Securities reissued an "outperform" rating and set a $10.00 target price on shares of TeraWulf in a report on Tuesday, December 24th. Rosenblatt Securities reaffirmed a "buy" rating and set a $10.00 price target on shares of TeraWulf in a research note on Monday, March 3rd. Finally, Needham & Company LLC reiterated a "buy" rating and set a $9.50 price target on shares of TeraWulf in a report on Monday, January 13th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $8.71.

TeraWulf Price Performance

The company's 50-day moving average price is $4.23 and its two-hundred day moving average price is $5.44. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -13.68 and a beta of 2.70.

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

Institutional Investors Weigh In On TeraWulf

A number of hedge funds have recently added to or reduced their stakes in WULF. Driehaus Capital Management LLC boosted its holdings in shares of TeraWulf by 3.4% during the 4th quarter. Driehaus Capital Management LLC now owns 12,733,291 shares of the company's stock worth $72,070,000 after buying an additional 412,877 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of TeraWulf by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 7,636,552 shares of the company's stock valued at $43,232,000 after acquiring an additional 453,429 shares during the period. State Street Corp boosted its stake in TeraWulf by 3.8% during the third quarter. State Street Corp now owns 6,283,196 shares of the company's stock worth $29,405,000 after acquiring an additional 227,186 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in TeraWulf by 21.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,369,381 shares of the company's stock worth $30,387,000 after purchasing an additional 955,795 shares during the period. Finally, Van ECK Associates Corp increased its stake in TeraWulf by 74.2% in the fourth quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company's stock valued at $26,964,000 after purchasing an additional 2,028,383 shares in the last quarter. 62.49% of the stock is currently owned by institutional investors.

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.