TeraWulf (NASDAQ:WULF) Shares Gap Down – Should You Sell?

Shares of TeraWulf Inc. (NASDAQ:WULF) gapped down before the market opened on Monday . The stock had previously closed at $15.01, but opened at $14.44. TeraWulf shares last traded at $15.0350, with a volume of 3,617,676 shares.

Analyst Upgrades and Downgrades

WULF has been the topic of a number of research analyst reports. Northland Securities set a $23.25 price objective on shares of TeraWulf in a report on Wednesday, October 29th. Needham & Company LLC reiterated a “buy” rating and set a $21.00 target price on shares of TeraWulf in a research report on Tuesday, February 3rd. Rosenblatt Securities restated a “buy” rating and issued a $24.00 price objective on shares of TeraWulf in a research report on Tuesday, November 11th. B. Riley Financial upped 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, Cantor Fitzgerald reissued an “overweight” rating and issued a $18.00 target price on shares of TeraWulf in a research note on Tuesday, December 23rd. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, TeraWulf currently has an average rating of “Moderate Buy” and a consensus price target of $20.31.

TeraWulf Price Performance

The firm has a market capitalization of $7.50 billion, a price-to-earnings ratio of -12.62 and a beta of 3.69. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 4.45. The company’s fifty day moving average is $13.82 and its two-hundred day moving average is $12.69.

Institutional Investors Weigh In On TeraWulf

A number of institutional investors have recently made changes to their positions in WULF. Hamilton Wealth LLC increased its holdings in TeraWulf by 14.1% in the fourth quarter. Hamilton Wealth LLC now owns 15,750 shares of the company’s stock valued at $181,000 after purchasing an additional 1,950 shares during the last quarter. Invesco Ltd. grew its position in shares of TeraWulf by 149.8% during the 4th quarter. Invesco Ltd. now owns 3,575,310 shares of the company’s stock worth $41,080,000 after buying an additional 2,144,209 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of TeraWulf during the 4th quarter worth about $117,000. Feynman Point Asset Management LLC bought a new stake in shares of TeraWulf in the 4th quarter valued at about $1,930,000. Finally, Galaxy Group Investments LLC bought a new stake in shares of TeraWulf in the 4th quarter valued at about $1,337,000. 62.49% of the stock is owned by institutional investors and hedge funds.

TeraWulf Company Profile

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.