TeraWulf (NASDAQ:WULF) Shares Gap Down – Time to Sell?

TeraWulf Inc. (NASDAQ:WULF)’s share price gapped down prior to trading 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 changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently commented on WULF shares. Northland Securities restated an “outperform” rating and set a $10.00 price objective on shares of TeraWulf in a report on Tuesday, December 24th. Keefe, Bruyette & Woods initiated coverage on TeraWulf in a research note on Wednesday, January 8th. They issued a “market perform” rating on the stock. Rosenblatt Securities restated a “buy” rating and issued a $10.00 price target on shares of TeraWulf in a report on Monday, March 3rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 price objective on shares of TeraWulf in a report on Monday, January 6th. Finally, Needham & Company LLC restated a “buy” rating and issued a $9.50 target price on shares of TeraWulf in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $8.64.

TeraWulf Stock Up 2.9 %

The stock has a market capitalization of $1.22 billion, a P/E ratio of -15.80 and a beta of 2.70. The stock has a 50 day simple moving average of $4.93 and a two-hundred day simple moving average of $5.54.

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 firm had revenue of $35.00 million during the quarter, compared to the consensus estimate of $37.43 million. TeraWulf’s revenue was up 50.2% compared to the same quarter last year. Sell-side analysts predict that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of WULF. Driehaus Capital Management LLC grew its holdings in TeraWulf by 3.4% during the fourth 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 period. Geode Capital Management LLC lifted its position in shares of TeraWulf by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 7,636,552 shares of the company’s stock valued at $43,232,000 after buying an additional 453,429 shares during the last quarter. State Street Corp boosted its stake in shares of TeraWulf by 3.8% during the 3rd quarter. State Street Corp now owns 6,283,196 shares of the company’s stock worth $29,405,000 after acquiring an additional 227,186 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of TeraWulf by 21.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,369,381 shares of the company’s stock worth $30,387,000 after acquiring an additional 955,795 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in TeraWulf by 74.2% in the 4th 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. 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.