TeraWulf (NASDAQ:WULF) Shares Down 6.5% – Should You Sell?
by Tristan Rich · The Markets DailyTeraWulf Inc. (NASDAQ:WULF – Get Free Report) shares dropped 6.5% during mid-day trading on Monday . The company traded as low as $13.22 and last traded at $13.20. Approximately 8,983,822 shares changed hands during trading, a decline of 59% from the average daily volume of 21,662,838 shares. The stock had previously closed at $14.12.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the company. Wall Street Zen cut TeraWulf from a “hold” rating to a “sell” rating in a research report on Sunday, October 26th. Citigroup reiterated a “market outperform” rating on shares of TeraWulf in a research report on Tuesday, November 11th. Northland Securities set a $23.25 price objective on TeraWulf in a research note on Wednesday, October 29th. Rosenblatt Securities restated a “buy” rating and issued a $24.00 price objective on shares of TeraWulf in a research report on Tuesday, November 11th. Finally, Compass Point set a $17.00 target price on TeraWulf and gave the company a “neutral” rating in a report on Tuesday, October 28th. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, TeraWulf presently has an average rating of “Moderate Buy” and an average target price of $19.15.
Read Our Latest Stock Analysis on WULF
TeraWulf Price Performance
The company’s 50 day moving average price is $13.26 and its 200 day moving average price is $11.13. The company has a market cap of $5.77 billion, a price-to-earnings ratio of -9.71 and a beta of 3.69. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 4.45.
TeraWulf (NASDAQ:WULF – Get Free Report) last released its earnings results on Monday, November 10th. The company reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($1.09). TeraWulf had a negative net margin of 336.53% and a negative return on equity of 69.75%. The business had revenue of $50.58 million during the quarter, compared to analyst estimates of $56.27 million. TeraWulf’s quarterly revenue was up 86.9% 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.
Insider Buying and Selling
In other TeraWulf news, Director Michael C. Bucella purchased 4,178 shares of TeraWulf stock in a transaction on Thursday, November 13th. The shares were bought at an average price of $12.01 per share, with a total value of $50,177.78. Following the completion of the acquisition, the director directly owned 266,958 shares of the company’s stock, valued at approximately $3,206,165.58. This trade represents a 1.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 19.90% of the company’s stock.
Institutional Trading of TeraWulf
Several large investors have recently added to or reduced their stakes in WULF. Comerica Bank increased its stake in TeraWulf by 3,748.5% during the 1st quarter. Comerica Bank now owns 12,700 shares of the company’s stock worth $35,000 after buying an additional 12,370 shares during the period. Millennium Management LLC grew its stake in shares of TeraWulf by 47.8% during the first quarter. Millennium Management LLC now owns 2,456,045 shares of the company’s stock valued at $6,705,000 after acquiring an additional 793,832 shares in the last quarter. Camelot Portfolios LLC purchased a new stake in shares of TeraWulf during the second quarter worth about $88,000. Greenleaf Trust acquired a new position in shares of TeraWulf in the second quarter worth about $83,000. Finally, 111 Capital purchased a new position in TeraWulf in the second quarter valued at about $129,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.
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.