TeraWulf (NASDAQ:WULF) Trading Down 5.8% – Here’s Why

TeraWulf Inc. (NASDAQ:WULF) traded down 5.8% on Tuesday . The company traded as low as $12.95 and last traded at $12.8250. 7,081,307 shares traded hands during trading, a decline of 63% from the average session volume of 19,060,932 shares. The stock had previously closed at $13.62.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Oppenheimer assumed coverage on shares of TeraWulf in a report on Tuesday, October 28th. They issued an “outperform” rating and a $20.00 price target on the stock. JMP Securities set a $22.00 price objective on TeraWulf in a research note on Wednesday, October 29th. Wall Street Zen cut TeraWulf from a “hold” rating to a “sell” rating in a research note on Sunday, October 26th. B. Riley raised their price objective on TeraWulf from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Finally, Compass Point set a $17.00 price objective on shares of TeraWulf and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.15.

TeraWulf Stock Down 3.6%

The firm has a market cap of $5.50 billion, a PE ratio of -9.23 and a beta of 3.69. The company has a 50-day simple moving average of $13.43 and a 200-day simple moving average of $10.24. The company has a debt-to-equity ratio of 4.45, a current ratio of 1.03 and a quick ratio of 1.03.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Monday, November 10th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($1.09). TeraWulf had a negative net margin of 336.53% and a negative return on equity of 69.75%. The business had revenue of $50.58 million for the quarter, compared to analysts’ expectations of $56.27 million. TeraWulf’s revenue for the quarter was up 86.9% compared to the same quarter last year. Analysts expect that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Michael C. Bucella purchased 4,178 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average price of $12.01 per share, with a total value of $50,177.78. Following the completion of the acquisition, the director owned 266,958 shares in the company, valued at $3,206,165.58. This trade represents a 1.59% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 19.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC purchased a new position in TeraWulf in the 3rd quarter valued at about $29,000. GPS Wealth Strategies Group LLC boosted its position in shares of TeraWulf by 366.2% during the third quarter. GPS Wealth Strategies Group LLC now owns 3,590 shares of the company’s stock worth $41,000 after buying an additional 2,820 shares during the period. Financial Consulate Inc. acquired a new stake in TeraWulf in the third quarter worth about $57,000. PNC Financial Services Group Inc. increased its stake in shares of TeraWulf by 116.3% during the third quarter. PNC Financial Services Group Inc. now owns 5,346 shares of the company’s stock valued at $61,000 after acquiring an additional 2,874 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in TeraWulf by 135.6% in the second quarter. Nisa Investment Advisors LLC now owns 6,575 shares of the company’s stock worth $29,000 after acquiring an additional 3,784 shares in the last quarter. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

About TeraWulf

TeraWulf, Inc (NASDAQ: WULF) is a digital asset infrastructure company focused on the development and operation of zero-carbon bitcoin mining facilities. The company integrates sustainable power generation with high-density data center technologies to deliver environmentally responsible digital asset mining services. Its core business revolves around designing, building and operating large-scale mining projects powered exclusively by renewable or emissions-free energy sources.

One of TeraWulf’s flagship projects is “Project Nautilus,” located in Tompkins County, New York, which harnesses hydroelectric power sourced from the New York State Electric & Gas (NYSEG) grid.