TeraWulf (NASDAQ:WULF) Shares Gap Down – What’s Next?

Shares of TeraWulf Inc. (NASDAQ:WULF) gapped down before the market opened on Friday . The stock had previously closed at $3.21, but opened at $3.09. TeraWulf shares last traded at $3.12, with a volume of 6,020,704 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $9.50 price target on shares of TeraWulf in a research report on Monday, January 13th. Northland Securities reaffirmed an “outperform” rating and issued a $10.00 target price on shares of TeraWulf in a research note on Tuesday, December 24th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 price target on shares of TeraWulf in a report on Monday, January 6th. Atb Cap Markets upgraded shares of TeraWulf to a “strong-buy” rating in a report on Sunday, January 5th. Finally, B. Riley lifted their target price on shares of TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, TeraWulf currently has an average rating of “Buy” and an average price target of $8.64.

TeraWulf Stock Performance

The firm’s 50-day simple moving average is $4.55 and its 200-day simple moving average is $5.47. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -15.73 and a beta of 2.70.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data 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 firm had revenue of $35.00 million for the quarter, compared to analyst estimates of $37.43 million. TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The business’s quarterly revenue was up 50.2% compared to the same quarter last year. Equities research analysts forecast that TeraWulf Inc. will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On TeraWulf

Institutional investors and hedge funds have recently modified their holdings of the business. Rosenberg Matthew Hamilton acquired a new stake in shares of TeraWulf in the 4th quarter valued at approximately $32,000. FMR LLC raised its holdings in TeraWulf by 22.0% during the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after purchasing an additional 1,408 shares during the last quarter. KBC Group NV bought a new position in TeraWulf during the 3rd quarter worth approximately $39,000. CoreCap Advisors LLC raised its holdings in TeraWulf by 67.9% during the 4th quarter. CoreCap Advisors LLC now owns 7,554 shares of the company’s stock worth $43,000 after purchasing an additional 3,054 shares during the last quarter. Finally, Hodges Capital Management Inc. bought a new stake in shares of TeraWulf in the 3rd quarter valued at $47,000. 62.49% of the stock is currently 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.