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

TeraWulf Inc. (NASDAQ:WULF)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $3.67, but opened at $3.48. TeraWulf shares last traded at $3.21, with a volume of 8,009,250 shares traded.

Analyst Ratings Changes

WULF has been the topic of a number of research analyst reports. B. Riley lifted their price target on TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Rosenblatt Securities reaffirmed a “buy” rating and set a $10.00 target price on shares of TeraWulf in a research note on Monday. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 price target on shares of TeraWulf in a research report on Monday, January 6th. Keefe, Bruyette & Woods started coverage on shares of TeraWulf in a report on Wednesday, January 8th. They set a “market perform” rating for the company. Finally, Atb Cap Markets upgraded shares of TeraWulf to a “strong-buy” rating in a research note on Sunday, January 5th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, TeraWulf presently has an average rating of “Buy” and an average target price of $8.64.

TeraWulf Price Performance

The stock has a market cap of $1.37 billion, a price-to-earnings ratio of -18.06 and a beta of 2.59. The business has a fifty day moving average of $5.22 and a 200 day moving average of $5.59.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings results on Friday, February 28th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate 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 business had revenue of $35.00 million for the quarter, compared to analyst estimates of $37.43 million. The business’s revenue for the quarter was up 50.2% on a year-over-year basis. On average, analysts expect that TeraWulf Inc. will post -0.17 EPS for the current year.

Hedge Funds Weigh In On TeraWulf

Several institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of TeraWulf by 258.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock valued at $11,063,000 after acquiring an additional 1,704,013 shares during the last quarter. State Street Corp grew its holdings in TeraWulf by 3.8% during 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. GoalVest Advisory LLC bought a new position in shares of TeraWulf in the fourth quarter valued at approximately $651,000. Intech Investment Management LLC acquired a new stake in shares of TeraWulf in the third quarter worth $340,000. Finally, Barclays PLC boosted its holdings in shares of TeraWulf by 419.7% during the 3rd quarter. Barclays PLC now owns 424,748 shares of the company’s stock worth $1,989,000 after buying an additional 343,016 shares during the period. 62.49% of the stock is currently owned by 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.