TeraWulf (NASDAQ:WULF) Trading Down 3.9% - What's Next?

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) was down 3.9% during mid-day trading on Tuesday . The company traded as low as $2.62 and last traded at $2.57. Approximately 4,855,659 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 41,516,441 shares. The stock had previously closed at $2.67.

Analyst Ratings Changes

Several research firms have commented on WULF. Northland Securities restated an "outperform" rating and set a $10.00 price objective on shares of TeraWulf in a report on Tuesday, December 24th. Cantor Fitzgerald restated an "overweight" rating and issued a $11.00 price objective on shares of TeraWulf in a report on Monday, January 6th. Needham & Company LLC reiterated a "buy" rating and set a $9.50 target price on shares of TeraWulf in a report on Monday, January 13th. Rosenblatt Securities cut their target price on shares of TeraWulf from $10.00 to $4.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Atb Cap Markets raised shares of TeraWulf to a "strong-buy" rating in a research report on Sunday, January 5th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $7.86.

TeraWulf Stock Performance

The firm's 50 day moving average is $3.55 and its 200 day moving average is $5.27. The stock has a market cap of $911.59 million, a P/E ratio of -11.90 and a beta of 2.76.

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TeraWulf (NASDAQ:WULF - Get Free Report) last issued its quarterly 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). 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 firm's revenue was up 50.2% compared to the same quarter last year. As a group, analysts expect that TeraWulf Inc. will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On TeraWulf

Several institutional investors have recently added to or reduced their stakes in WULF. Intellectus Partners LLC boosted its stake in TeraWulf by 43.4% in the 1st quarter. Intellectus Partners LLC now owns 38,000 shares of the company's stock worth $104,000 after purchasing an additional 11,500 shares in the last quarter. Edge Wealth Management LLC acquired a new position in shares of TeraWulf in the 1st quarter valued at $55,000. RFG Advisory LLC purchased a new position in TeraWulf in the 1st quarter worth $290,000. NBC Securities Inc. acquired a new stake in TeraWulf during the 1st quarter worth about $305,000. Finally, Hardin Capital Partners LLC purchased a new stake in TeraWulf during the 1st quarter valued at about $78,000. Institutional investors and hedge funds own 62.49% of the company's stock.

TeraWulf Company Profile

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.