TeraWulf (NASDAQ:WULF) Stock Price Down 5.3%

TeraWulf Inc. (NASDAQ:WULF) shares fell 5.3% during trading on Tuesday . The stock traded as low as $3.34 and last traded at $3.38. 7,814,156 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 19,885,883 shares. The stock had previously closed at $3.57.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on WULF shares. Roth Mkm restated a “buy” rating and issued a $6.50 price objective on shares of TeraWulf in a research report on Monday, July 8th. B. Riley boosted their price target on shares of TeraWulf from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Cantor Fitzgerald increased their price objective on shares of TeraWulf from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Friday, July 5th. Finally, Roth Capital upgraded shares of TeraWulf to a “strong-buy” rating in a research report on Tuesday, July 2nd. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, TeraWulf currently has an average rating of “Buy” and a consensus price target of $5.53.

TeraWulf Stock Down 7.3 %

The business has a fifty day simple moving average of $4.45 and a two-hundred day simple moving average of $2.96.

TeraWulf (NASDAQ:WULF) last issued its earnings results on Monday, May 13th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The business had revenue of $42.43 million during the quarter, compared to analyst estimates of $41.86 million. TeraWulf had a negative net margin of 56.70% and a negative return on equity of 30.00%. As a group, equities research analysts forecast that TeraWulf Inc. will post -0.07 earnings per share for the current fiscal year.

Insider Buying and Selling at TeraWulf

In related news, Treasurer Kenneth J. Deane sold 69,996 shares of TeraWulf stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $3.25, for a total transaction of $227,487.00. Following the transaction, the treasurer now owns 337,245 shares in the company, valued at $1,096,046.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 24.88% of the stock is owned by insiders.

Hedge Funds Weigh In On TeraWulf

A number of institutional investors have recently bought and sold shares of the company. Apollon Wealth Management LLC acquired a new position in shares of TeraWulf in the 4th quarter valued at $27,000. Partners Capital Investment Group LLP acquired a new stake in TeraWulf in the 4th quarter valued at approximately $29,000. Miracle Mile Advisors LLC purchased a new stake in TeraWulf in the first quarter valued at approximately $29,000. Amalgamated Bank lifted its stake in TeraWulf by 57.7% during the second quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock worth $35,000 after purchasing an additional 2,912 shares in the last quarter. Finally, Financial Advocates Investment Management purchased a new position in shares of TeraWulf during the fourth quarter worth $39,000. 62.49% of the stock is owned by hedge funds and other institutional investors.

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.