TeraWulf (NASDAQ:WULF) Shares Gap Down – What’s Next?

TeraWulf Inc. (NASDAQ:WULF)’s share price gapped down before the market opened 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 Ratings Changes

WULF has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $9.50 price target on shares of TeraWulf in a research note on Monday, January 13th. Keefe, Bruyette & Woods initiated coverage on TeraWulf in a report on Wednesday, January 8th. They issued a “market perform” rating on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $11.00 target price on shares of TeraWulf in a research note on Monday, January 6th. B. Riley upped 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. Finally, Jones Trading began coverage on shares of TeraWulf in a report on Monday. They set a “buy” rating and a $4.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $8.71.

TeraWulf Trading Up 1.9 %

The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -14.69 and a beta of 2.70. The firm has a 50 day moving average price of $4.09 and a 200-day moving average price of $5.42.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings data on Friday, February 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The business had revenue of $35.00 million for the quarter, compared to analyst estimates of $37.43 million. TeraWulf had a negative return on equity of 15.91% and a negative net margin of 41.88%. The business’s revenue for the quarter was up 50.2% compared to the same quarter last year. As a group, equities analysts expect that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TeraWulf

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

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.