TeraWulf (NASDAQ:WULF) Stock Price Down 8.4% – What’s Next?

TeraWulf Inc. (NASDAQ:WULF) traded down 8.4% during trading on Tuesday . The company traded as low as $3.02 and last traded at $2.99. 25,586,851 shares traded hands during trading, a decline of 3% from the average session volume of 26,327,881 shares. The stock had previously closed at $3.26.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Atb Cap Markets upgraded shares of TeraWulf to a “strong-buy” rating in a research note on Sunday, January 5th. 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. 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. Rosenblatt Securities reissued a “buy” rating and issued a $10.00 price target on shares of TeraWulf in a report on Monday, March 3rd. Finally, Keefe, Bruyette & Woods began coverage on TeraWulf in a report on Wednesday, January 8th. They set a “market perform” rating on the stock. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $8.64.

TeraWulf Trading Down 2.7 %

The company has a 50-day moving average of $4.60 and a 200-day moving average of $5.48. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -16.05 and a beta of 2.70.

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

Hedge Funds Weigh In On TeraWulf

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Driehaus Capital Management LLC lifted its holdings in shares of TeraWulf by 3.4% in the 4th quarter. Driehaus Capital Management LLC now owns 12,733,291 shares of the company’s stock worth $72,070,000 after purchasing an additional 412,877 shares during the last quarter. Geode Capital Management LLC increased its position in TeraWulf by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 7,636,552 shares of the company’s stock worth $43,232,000 after buying an additional 453,429 shares during the period. State Street Corp lifted its stake in TeraWulf by 3.8% in the third quarter. State Street Corp now owns 6,283,196 shares of the company’s stock valued at $29,405,000 after buying an additional 227,186 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of TeraWulf by 21.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,369,381 shares of the company’s stock valued at $30,387,000 after acquiring an additional 955,795 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of TeraWulf by 74.2% during the fourth quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company’s stock worth $26,964,000 after acquiring an additional 2,028,383 shares during the last quarter. 62.49% of the stock is currently owned by institutional investors and hedge funds.

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.