TeraWulf (NASDAQ:WULF) Shares Gap Down – Here’s Why

TeraWulf Inc. (NASDAQ:WULF)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $5.20, but opened at $5.03. TeraWulf shares last traded at $5.14, with a volume of 2,575,612 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. B. Riley restated a “buy” rating and issued a $6.00 price target on shares of TeraWulf in a research note on Monday, October 7th. Needham & Company LLC began coverage on shares of TeraWulf in a research report on Wednesday, September 4th. They set a “buy” rating and a $6.00 target price for the company. Roth Mkm reiterated a “buy” rating and issued a $6.50 price target on shares of TeraWulf in a report on Monday, July 8th. Stifel Canada raised shares of TeraWulf from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, October 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 target price on shares of TeraWulf in a report on Thursday, October 3rd. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, TeraWulf currently has an average rating of “Buy” and a consensus target price of $6.17.

TeraWulf Stock Up 3.4 %

The business’s fifty day moving average price is $4.36 and its two-hundred day moving average price is $3.73.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter. TeraWulf had a negative return on equity of 19.77% and a negative net margin of 41.67%. The company had revenue of $35.57 million for the quarter, compared to the consensus estimate of $35.73 million. On average, research analysts anticipate that TeraWulf Inc. will post -0.1 earnings per share for the current year.

Institutional Trading of TeraWulf

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Aspect Partners LLC purchased a new position in TeraWulf during the third quarter worth $26,000. Amalgamated Bank boosted 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. ARS Investment Partners LLC purchased a new position in shares of TeraWulf during the 2nd quarter worth about $44,000. Pekin Hardy Strauss Inc. bought a new position in TeraWulf during the 2nd quarter valued at about $44,000. Finally, Miracle Mile Advisors LLC purchased a new stake in TeraWulf in the 1st quarter worth about $29,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

TeraWulf Company Profile

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.