TeraWulf (NASDAQ:WULF) Shares Down 5.8% – What’s Next?

TeraWulf Inc. (NASDAQ:WULF)’s share price fell 5.8% on Tuesday . The stock traded as low as $12.95 and last traded at $12.8250. 7,081,307 shares were traded during mid-day trading, a decline of 63% from the average session volume of 19,060,932 shares. The stock had previously closed at $13.62.

Analysts Set New Price Targets

Several research analysts have weighed in on WULF shares. UBS Group set a $18.25 target price on TeraWulf in a research report on Friday, October 24th. Wall Street Zen lowered shares of TeraWulf from a “hold” rating to a “sell” rating in a research report on Sunday, October 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $21.00 price objective on shares of TeraWulf in a report on Tuesday, November 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a report on Monday, December 29th. Finally, JMP Securities set a $22.00 price target on TeraWulf in a report on Wednesday, October 29th. Twelve investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $19.15.

TeraWulf Stock Performance

The company has a market capitalization of $5.50 billion, a P/E ratio of -9.23 and a beta of 3.69. The company has a fifty day moving average price of $13.43 and a two-hundred day moving average price 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 announced its earnings results 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 return on equity of 69.75% and a negative net margin of 336.53%.The company had revenue of $50.58 million for the quarter, compared to the consensus estimate of $56.27 million. The firm’s quarterly revenue was up 86.9% on a year-over-year basis. Equities analysts forecast that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Michael C. Bucella bought 4,178 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were purchased at an average cost of $12.01 per share, for a total transaction of $50,177.78. Following the completion of the purchase, the director directly owned 266,958 shares in the company, valued at $3,206,165.58. The trade was a 1.59% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 19.90% of the company’s stock.

Hedge Funds Weigh In On TeraWulf

A number of institutional investors have recently added to or reduced their stakes in WULF. Vanguard Group Inc. lifted its position in TeraWulf by 2.8% during the third quarter. Vanguard Group Inc. now owns 24,480,051 shares of the company’s stock valued at $279,562,000 after purchasing an additional 674,474 shares during the last quarter. Bank of America Corp DE increased its holdings in TeraWulf by 22.2% during the 2nd quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock valued at $63,038,000 after purchasing an additional 2,617,617 shares during the period. Voloridge Investment Management LLC bought a new position in shares of TeraWulf during the third quarter valued at approximately $69,006,000. Hodges Capital Management Inc. increased its position in TeraWulf by 13.8% during the 2nd quarter. Hodges Capital Management Inc. now owns 4,062,480 shares of the company’s stock valued at $17,794,000 after purchasing an additional 493,001 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of TeraWulf by 36,193.2% during the third quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock valued at $44,559,000 after buying an additional 3,891,127 shares during the period. 62.49% of the stock is currently owned by institutional investors.

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.