TeraWulf (NASDAQ:WULF) Shares Gap Down – Here’s What Happened

TeraWulf Inc. (NASDAQ:WULF)’s share price gapped down prior to trading on Monday . The stock had previously closed at $3.60, but opened at $3.40. TeraWulf shares last traded at $3.09, with a volume of 4,165,874 shares changing hands.

Analyst Ratings Changes

Several research firms have commented on WULF. Northland Securities restated an “outperform” rating and issued a $10.00 price target on shares of TeraWulf in a report on Tuesday, December 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 price target on shares of TeraWulf in a research report on Monday, January 6th. Atb Cap Markets upgraded shares of TeraWulf to a “strong-buy” rating in a report on Sunday, January 5th. B. Riley upped their price objective on TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods began coverage on TeraWulf in a research report on Wednesday, January 8th. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $8.64.

TeraWulf Trading Down 18.8 %

The business has a 50 day simple moving average of $5.02 and a two-hundred day simple moving average of $5.57. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -14.63 and a beta of 2.70.

TeraWulf (NASDAQ:WULF) 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 company had revenue of $35.00 million during the quarter, compared to the consensus estimate of $37.43 million. The business’s revenue was up 50.2% compared to the same quarter last year. Research analysts anticipate that TeraWulf Inc. will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On TeraWulf

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC increased its stake in TeraWulf by 22.0% during the third quarter. FMR LLC now owns 7,803 shares of the company’s stock valued at $37,000 after purchasing an additional 1,408 shares during the last quarter. Chesapeake Capital Corp IL grew its position in shares of TeraWulf by 6.6% during the 3rd quarter. Chesapeake Capital Corp IL now owns 27,500 shares of the company’s stock valued at $136,000 after buying an additional 1,700 shares during the last quarter. ARS Investment Partners LLC raised its stake in TeraWulf by 20.0% during the fourth quarter. ARS Investment Partners LLC now owns 12,000 shares of the company’s stock worth $68,000 after acquiring an additional 2,000 shares during the period. Truist Financial Corp lifted its holdings in TeraWulf by 5.0% in the fourth quarter. Truist Financial Corp now owns 52,500 shares of the company’s stock worth $297,000 after acquiring an additional 2,500 shares during the last quarter. Finally, CoreCap Advisors LLC boosted its stake in TeraWulf by 67.9% in the fourth quarter. CoreCap Advisors LLC now owns 7,554 shares of the company’s stock valued at $43,000 after acquiring an additional 3,054 shares during the period. 62.49% of the stock is owned by institutional investors and hedge funds.

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.