TeraWulf (NASDAQ:WULF) Shares Down 4.4% - Should You Sell?

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) shares were down 4.4% during mid-day trading on Friday . The company traded as low as $5.13 and last traded at $5.13. Approximately 25,920,742 shares traded hands during mid-day trading, a decline of 24% from the average daily volume of 33,946,162 shares. The stock had previously closed at $5.36.

Analysts Set New Price Targets

WULF has been the subject of a number of research analyst reports. Citizens Jmp upgraded TeraWulf to a "strong-buy" rating and set a $7.00 price target for the company in a report on Thursday, May 22nd. JMP Securities assumed coverage on TeraWulf in a report on Thursday, May 22nd. They set a "market outperform" rating and a $7.00 target price for the company. Rosenblatt Securities raised their target price on TeraWulf from $4.50 to $6.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Finally, Jones Trading initiated coverage on TeraWulf in a research note on Monday, March 31st. They issued a "buy" rating and a $4.00 price objective for the company. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $8.06.

TeraWulf Stock Performance

The company has a market capitalization of $1.95 billion, a PE ratio of -15.36 and a beta of 3.11. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.90 and a current ratio of 1.90. The stock's fifty day simple moving average is $4.21 and its 200-day simple moving average is $4.05.

TeraWulf (NASDAQ:WULF - Get Free Report) last released its earnings results on Friday, May 9th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The business had revenue of $34.41 million during the quarter, compared to analyst estimates of $45.72 million. TeraWulf had a negative net margin of 94.09% and a negative return on equity of 42.09%. The company's quarterly revenue was down 18.9% compared to the same quarter last year. As a group, equities analysts predict that TeraWulf Inc. will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On TeraWulf

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CoreCap Advisors LLC increased its stake in TeraWulf by 67.9% during the fourth quarter. CoreCap Advisors LLC now owns 7,554 shares of the company's stock worth $43,000 after acquiring an additional 3,054 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of TeraWulf in the first quarter valued at about $29,000. Caitlin John LLC acquired a new stake in shares of TeraWulf in the second quarter valued at about $46,000. Calamos Advisors LLC acquired a new stake in shares of TeraWulf in the first quarter valued at about $33,000. Finally, Forum Financial Management LP acquired a new stake in shares of TeraWulf in the fourth quarter valued at about $68,000. 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.

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