TeraWulf (NASDAQ:WULF) Stock Falls 5.2% - Here's Why

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) was down 5.2% on Monday. The company traded as low as $14.67 and last traded at $14.6850. Approximately 14,836,061 shares were traded during mid-day trading, a decline of 52% from the average session volume of 31,133,578 shares. The stock had previously closed at $15.49.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WULF shares. HC Wainwright reaffirmed a "buy" rating on shares of TeraWulf in a report on Friday, August 21st. William Blair assumed coverage on TeraWulf in a research report on Friday, August 28th. They set an "outperform" rating for the company. UBS Group began coverage on TeraWulf in a research note on Wednesday, September 23rd. They issued a "buy" rating and a $24.00 price target on the stock. Bank of America started coverage on shares of TeraWulf in a research note on Monday, June 15th. They set a "buy" rating and a $34.00 price objective on the stock. Finally, Chardan Capital reaffirmed a "buy" rating and set a $32.00 price target on shares of TeraWulf in a report on Wednesday, August 5th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, TeraWulf currently has an average rating of "Moderate Buy" and an average price target of $33.33.

TeraWulf Stock Down 5.2%

The stock has a market cap of $7.33 billion, a price-to-earnings ratio of -3.36 and a beta of 3.80. The company has a debt-to-equity ratio of 27.25, a quick ratio of 0.75 and a current ratio of 0.75. The firm's 50-day simple moving average is $16.39 and its two-hundred day simple moving average is $19.77.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($1.70). The company had revenue of $44.77 million for the quarter, compared to analyst estimates of $46.00 million. TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%.TeraWulf's revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.05) earnings per share. On average, sell-side analysts expect that TeraWulf Inc. will post -1 EPS for the current fiscal year.

Insider Buying and Selling at TeraWulf

In other news, Director Michael C. Bucella purchased 6,085 shares of the firm's stock in a transaction that occurred on Tuesday, September 15th. The shares were acquired at an average price of $14.79 per share, for a total transaction of $89,997.15. Following the completion of the acquisition, the director directly owned 350,789 shares in the company, valued at approximately $5,188,169.31. The trade was a 1.77% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Walter E. Carter sold 130,626 shares of TeraWulf stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $15.14, for a total value of $1,977,677.64. Following the completion of the sale, the director owned 229,090 shares of the company's stock, valued at approximately $3,468,422.60. The trade was a 36.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have bought 11,968 shares of company stock worth $189,962. Insiders own 15.90% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vermillion Wealth Management Inc. grew its position in shares of TeraWulf by 1,191.0% during the 4th quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company's stock worth $30,000 after buying an additional 2,394 shares during the period. Solstein Capital LLC acquired a new position in TeraWulf in the fourth quarter valued at approximately $34,000. CoreCap Advisors LLC boosted its stake in TeraWulf by 106.7% in the second quarter. CoreCap Advisors LLC now owns 1,447 shares of the company's stock valued at $36,000 after acquiring an additional 747 shares during the last quarter. First United Bank & Trust bought a new position in TeraWulf in the first quarter valued at approximately $37,000. Finally, Ameritas Advisory Services LLC acquired a new stake in TeraWulf during the 2nd quarter worth $41,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.

TeraWulf Company Profile

TeraWulf, Inc is a digital infrastructure company that develops and operates energy-intensive computing facilities in the United States. The company has primarily focused on bitcoin mining, using specialized application-specific integrated circuit (ASIC) hardware and power infrastructure to support cryptocurrency production.

TeraWulf emphasizes the use of low-carbon energy sources, including nuclear and hydropower, as part of its strategy to reduce the environmental impact of its operations.

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