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

by · The Markets Daily

TeraWulf Inc. (NASDAQ:WULF – Get Free Report)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $2.88, but opened at $2.75. TeraWulf shares last traded at $2.90, with a volume of 3,727,408 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WULF. 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. Rosenblatt Securities reaffirmed a “buy” rating and issued a $10.00 price objective on shares of TeraWulf in a research note on Monday, March 3rd. 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 report on Thursday, December 19th. Jones Trading began coverage on shares of TeraWulf in a research report on Monday. They issued a “buy” rating and a $4.00 price target for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $9.50 price objective on shares of TeraWulf in a report on Monday, January 13th. 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.com, the company has an average rating of “Buy” and a consensus target price of $8.71.

Read Our Latest Stock Analysis on TeraWulf

TeraWulf Trading Up 1.9 %

The company has a market cap of $1.12 billion, a price-to-earnings ratio of -14.69 and a beta of 2.70. The stock’s fifty day simple moving average is $4.09 and its 200 day simple moving average is $5.42.

TeraWulf (NASDAQ:WULF – Get Free Report) last announced its quarterly earnings data on Friday, February 28th. The company reported ($0.08) 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 analysts’ expectations of $37.43 million. TeraWulf had a negative return on equity of 15.91% and a negative net margin of 41.88%. The company’s revenue for the quarter was up 50.2% compared to the same quarter last year. On average, analysts predict that TeraWulf Inc. will post -0.17 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Rosenberg Matthew Hamilton acquired a new stake in TeraWulf during the fourth quarter worth about $32,000. CoreCap Advisors LLC grew its stake in shares of TeraWulf by 67.9% in the 4th quarter. CoreCap Advisors LLC now owns 7,554 shares of the company’s stock valued at $43,000 after buying an additional 3,054 shares during the period. FMR LLC increased its holdings in shares of TeraWulf by 22.0% during the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after buying an additional 1,408 shares during the last quarter. Hodges Capital Management Inc. purchased a new stake in TeraWulf in the third quarter valued at $47,000. Finally, Stifel Financial Corp acquired a new stake in shares of TeraWulf during the third quarter valued at about $47,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

TeraWulf Company Profile

(Get Free Report)

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.

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