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

TeraWulf Inc. (NASDAQ:WULF) shares gapped down before the market opened on Friday . The stock had previously closed at $3.21, but opened at $3.09. TeraWulf shares last traded at $3.12, with a volume of 6,020,704 shares.

Analysts Set New Price Targets

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

TeraWulf Trading Down 2.0 %

The company has a market capitalization of $1.21 billion, a PE ratio of -15.73 and a beta of 2.70. The stock has a fifty day simple moving average of $4.55 and a 200-day simple moving average of $5.47.

TeraWulf (NASDAQ:WULF) last posted 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). The firm had revenue of $35.00 million during the quarter, compared to analysts’ expectations of $37.43 million. TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. TeraWulf’s quarterly revenue was up 50.2% on a year-over-year basis. As a group, equities research analysts predict that TeraWulf Inc. will post -0.17 EPS for the current year.

Institutional Investors Weigh In On TeraWulf

A number of institutional investors and hedge funds have recently modified their holdings of WULF. Victory Capital Management Inc. lifted its stake in shares of TeraWulf by 13.3% during the 3rd quarter. Victory Capital Management Inc. now owns 34,866 shares of the company’s stock worth $163,000 after purchasing an additional 4,093 shares during the period. KBC Group NV acquired a new stake in shares of TeraWulf during the third quarter valued at about $39,000. Intech Investment Management LLC acquired a new stake in shares of TeraWulf during the third quarter valued at about $340,000. Charles Schwab Investment Management Inc. grew its stake in TeraWulf by 258.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock worth $11,063,000 after purchasing an additional 1,704,013 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in TeraWulf by 66.7% in the third quarter. The Manufacturers Life Insurance Company now owns 145,554 shares of the company’s stock worth $681,000 after purchasing an additional 58,235 shares in the last quarter. Institutional investors and hedge funds 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.