TeraWulf (NASDAQ:WULF) Shares Gap Down – Time to Sell?

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.

Analysts Set New Price Targets

A number of brokerages have commented on WULF. Northland Securities reissued an “outperform” rating and set a $10.00 price objective on shares of TeraWulf in a report on Tuesday, December 24th. Rosenblatt Securities reissued a “buy” rating and issued a $10.00 price target on shares of TeraWulf in a report on Monday, March 3rd. Keefe, Bruyette & Woods began coverage on shares of TeraWulf in a research report on Wednesday, January 8th. They issued a “market perform” rating for the company. B. Riley increased their price objective on TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $11.00 target price on shares of TeraWulf in a research report on Monday, January 6th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $8.64.

TeraWulf Trading Up 2.9 %

The stock has a 50 day moving average price of $4.93 and a two-hundred day moving average price of $5.54. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -15.80 and a beta of 2.70.

TeraWulf (NASDAQ:WULF) last issued 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 company had revenue of $35.00 million for the quarter, compared to the consensus estimate of $37.43 million. TeraWulf had a negative return on equity of 15.91% and a negative net margin of 41.88%. The business’s quarterly revenue was up 50.2% compared to the same quarter last year. On average, equities analysts forecast that TeraWulf Inc. will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

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