TeraWulf (NASDAQ:WULF) Shares Gap Down to $3.79

Shares of TeraWulf Inc. (NASDAQ:WULF) gapped down prior to trading on Monday . The stock had previously closed at $3.79, but opened at $3.70. TeraWulf shares last traded at $3.55, with a volume of 1,077,064 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently issued reports on WULF shares. Roth Mkm reiterated a “buy” rating and issued a $6.50 price target on shares of TeraWulf in a research note on Monday, July 8th. B. Riley boosted their price objective on shares of TeraWulf from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Roth Capital upgraded shares of TeraWulf to a “strong-buy” rating in a research report on Tuesday, July 2nd. Rosenblatt Securities boosted their price objective on shares of TeraWulf from $4.20 to $5.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Cantor Fitzgerald lifted their target price on shares of TeraWulf from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Friday, July 5th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $5.67.

TeraWulf Price Performance

The business’s fifty day moving average price is $4.47 and its 200 day moving average price is $2.97.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter. The firm had revenue of $35.57 million during the quarter, compared to analyst estimates of $35.73 million. TeraWulf had a negative net margin of 56.70% and a negative return on equity of 30.00%. Analysts predict that TeraWulf Inc. will post -0.07 earnings per share for the current fiscal year.

Insider Buying and Selling at TeraWulf

In other TeraWulf news, Treasurer Kenneth J. Deane sold 69,996 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $3.25, for a total value of $227,487.00. Following the transaction, the treasurer now directly owns 337,245 shares of the company’s stock, valued at approximately $1,096,046.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 24.88% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TeraWulf

Institutional investors have recently bought and sold shares of the company. Apollon Wealth Management LLC acquired a new position in shares of TeraWulf during the 4th quarter worth $27,000. Partners Capital Investment Group LLP acquired a new position in shares of TeraWulf during the 4th quarter worth $29,000. Miracle Mile Advisors LLC acquired a new position in shares of TeraWulf during the 1st quarter worth $29,000. Amalgamated Bank grew its stake in shares of TeraWulf by 57.7% during the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock worth $35,000 after purchasing an additional 2,912 shares during the period. Finally, Financial Advocates Investment Management acquired a new position in shares of TeraWulf during the 4th quarter worth $39,000. 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.