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

TeraWulf Inc. (NASDAQ:WULF) shares gapped down before the market opened on Monday . The stock had previously closed at $3.60, but opened at $3.40. TeraWulf shares last traded at $3.09, with a volume of 4,165,874 shares traded.

Analyst Ratings Changes

A number of research firms have issued reports on WULF. Atb Cap Markets upgraded TeraWulf to a “strong-buy” rating in a research note on Sunday, January 5th. Rosenblatt Securities reiterated a “buy” rating and issued a $10.00 price objective on shares of TeraWulf in a research report on Monday, March 3rd. B. Riley raised their price target on shares of TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Needham & Company LLC reiterated a “buy” rating and set a $9.50 price objective on shares of TeraWulf in a research report on Monday, January 13th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of TeraWulf in a research note on Wednesday, January 8th. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $8.64.

TeraWulf Stock Performance

The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -14.63 and a beta of 2.70. The company’s 50 day moving average is $5.02 and its 200 day moving average is $5.57.

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

Institutional Trading of TeraWulf

A number of institutional investors and hedge funds have recently modified their holdings of WULF. Senator Investment Group LP acquired a new stake in TeraWulf during the fourth quarter worth $24,371,000. Science & Technology Partners L.P. bought a new position in shares of TeraWulf during the 4th quarter worth about $18,606,000. BIT Capital GmbH boosted its position in shares of TeraWulf by 169.4% during the 4th quarter. BIT Capital GmbH now owns 3,975,768 shares of the company’s stock valued at $22,503,000 after acquiring an additional 2,499,865 shares in the last quarter. Van ECK Associates Corp increased its stake in TeraWulf by 74.2% in the fourth quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company’s stock valued at $26,964,000 after acquiring an additional 2,028,383 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new position in TeraWulf in the fourth quarter worth about $10,970,000. 62.49% of the stock is currently owned by institutional investors.

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.