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

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

Analyst Upgrades and Downgrades

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

TeraWulf Stock Up 5.5%

The firm has a 50 day simple moving average of $4.26 and a two-hundred day simple moving average of $4.03. The stock has a market capitalization of $2.02 billion, a P/E ratio of -15.95 and a beta of 3.11. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 3.03.

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

Institutional Trading of TeraWulf

Several hedge funds have recently made changes to their positions in WULF. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of TeraWulf during the first quarter worth $29,000. Calamos Advisors LLC purchased a new stake in shares of TeraWulf during the first quarter worth about $33,000. Arete Wealth Advisors LLC purchased a new stake in shares of TeraWulf during the first quarter worth about $33,000. Comerica Bank increased its stake in shares of TeraWulf by 3,748.5% during the first quarter. Comerica Bank now owns 12,700 shares of the company's stock worth $35,000 after purchasing an additional 12,370 shares in the last quarter. Finally, Platform Technology Partners purchased a new stake in shares of TeraWulf during the first quarter worth about $39,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

About TeraWulf

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.