TeraWulf (NASDAQ:WULF) Trading Down 5.3% – Here’s Why

TeraWulf Inc. (NASDAQ:WULF) shares fell 5.3% during trading on Tuesday . The stock traded as low as $3.28 and last traded at $3.29. 5,143,647 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 26,492,325 shares. The stock had previously closed at $3.47.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WULF shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 price objective 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. Northland Securities reiterated an “outperform” rating and set a $10.00 price objective on shares of TeraWulf in a research note on Tuesday, December 24th. B. Riley raised their target price on shares of TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Keefe, Bruyette & Woods started coverage on TeraWulf in a research report on Wednesday, January 8th. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $9.50.

TeraWulf Trading Down 11.3 %

The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -14.55 and a beta of 2.70. The firm has a 50-day moving average of $4.36 and a 200-day moving average of $5.45.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings results on Friday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.04). TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The firm had revenue of $35.00 million for the quarter, compared to analysts’ expectations of $37.43 million. The company’s revenue was up 50.2% on a year-over-year basis. On average, equities research analysts anticipate that TeraWulf Inc. will post -0.17 EPS for the current year.

Hedge Funds Weigh In On TeraWulf

Several hedge funds and other institutional investors have recently bought and sold shares of WULF. Driehaus Capital Management LLC boosted its holdings in shares of TeraWulf by 3.4% in the 4th quarter. Driehaus Capital Management LLC now owns 12,733,291 shares of the company’s stock valued at $72,070,000 after acquiring an additional 412,877 shares during the last quarter. Geode Capital Management LLC lifted its position in TeraWulf by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 7,636,552 shares of the company’s stock valued at $43,232,000 after purchasing an additional 453,429 shares during the period. State Street Corp boosted its holdings 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 purchasing an additional 227,186 shares during the last quarter. Dimensional Fund Advisors LP grew its position in TeraWulf by 21.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,369,381 shares of the company’s stock worth $30,387,000 after purchasing an additional 955,795 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of TeraWulf by 74.2% during the 4th quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company’s stock valued at $26,964,000 after buying an additional 2,028,383 shares during the last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.

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.