TeraWulf (NASDAQ:WULF) Trading Down 5.4% – Here’s Why
by Tristan Rich · The Markets DailyShares of TeraWulf Inc. (NASDAQ:WULF – Get Free Report) fell 5.4% during mid-day trading on Tuesday . The company traded as low as $15.69 and last traded at $15.5290. 10,934,599 shares were traded during trading, a decline of 65% from the average session volume of 31,065,943 shares. The stock had previously closed at $16.41.
Analysts Set New Price Targets
Several brokerages recently issued reports on WULF. Keefe, Bruyette & Woods cut their target price on TeraWulf from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $21.00 price objective on shares of TeraWulf in a research note on Tuesday, February 3rd. Rosenblatt Securities raised their price target on TeraWulf from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of TeraWulf in a report on Monday, December 29th. Finally, Cantor Fitzgerald lifted their price target on shares of TeraWulf from $18.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Twelve analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, TeraWulf has an average rating of “Moderate Buy” and an average target price of $20.62.
View Our Latest Research Report on WULF
TeraWulf Price Performance
The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 33.00. The stock has a market capitalization of $6.81 billion, a PE ratio of -9.89 and a beta of 3.66. The firm has a 50 day moving average price of $14.78 and a 200 day moving average price of $13.40.
Insider Buying and Selling at TeraWulf
In other news, Director Michael C. Bucella purchased 3,171 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was acquired at an average price of $15.78 per share, for a total transaction of $50,038.38. Following the acquisition, the director directly owned 270,129 shares of the company’s stock, valued at $4,262,635.62. This represents a 1.19% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders bought a total of 6,594 shares of company stock worth $100,059 in the last ninety days. Company insiders own 19.90% of the company’s stock.
Hedge Funds Weigh In On TeraWulf
Several hedge funds have recently added to or reduced their stakes in WULF. Vanguard Group Inc. boosted its holdings in shares of TeraWulf by 37.4% in the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock valued at $386,558,000 after purchasing an additional 9,162,958 shares during the period. Bank of America Corp DE lifted its holdings in shares of TeraWulf by 22.2% during the 2nd quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock valued at $63,038,000 after purchasing an additional 2,617,617 shares during the last quarter. Morgan Stanley boosted its holdings in TeraWulf by 8.1% in the fourth quarter. Morgan Stanley now owns 9,641,209 shares of the company’s stock worth $110,778,000 after acquiring an additional 724,286 shares in the last quarter. Geode Capital Management LLC grew its position in TeraWulf by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company’s stock worth $96,274,000 after purchasing an additional 318,842 shares during the last quarter. Finally, State Street Corp increased its position in shares of TeraWulf by 4.2% in the 4th quarter. State Street Corp now owns 7,349,508 shares of the company’s stock valued at $84,446,000 after acquiring an additional 298,645 shares during the period. 62.49% of the stock is currently owned by institutional investors.
TeraWulf Company Profile
TeraWulf, Inc (NASDAQ: WULF) is a digital asset infrastructure company focused on the development and operation of zero-carbon bitcoin mining facilities. The company integrates sustainable power generation with high-density data center technologies to deliver environmentally responsible digital asset mining services. Its core business revolves around designing, building and operating large-scale mining projects powered exclusively by renewable or emissions-free energy sources.
One of TeraWulf’s flagship projects is “Project Nautilus,” located in Tompkins County, New York, which harnesses hydroelectric power sourced from the New York State Electric & Gas (NYSEG) grid.