TeraWulf (NASDAQ:WULF) Trading Down 6.6% - What's Next?

TeraWulf Inc. (NASDAQ:WULF - Get Free Report)'s share price fell 6.6% on Tuesday . The company traded as low as $4.09 and last traded at $4.05. 1,981,251 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 31,346,956 shares. The stock had previously closed at $4.33.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WULF. Jones Trading began coverage on shares of TeraWulf in a report on Monday, March 31st. They issued a "buy" rating and a $4.00 price target for the company. Rosenblatt Securities increased their price target on shares of TeraWulf from $4.50 to $6.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Citizens Jmp raised shares of TeraWulf to a "strong-buy" rating and set a $7.00 price target for the company in a report on Thursday, May 22nd. Finally, JMP Securities initiated coverage on shares of TeraWulf in a research note on Thursday, May 22nd. They issued a "market outperform" rating and a $7.00 price objective for the company. One analyst has rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, TeraWulf has an average rating of "Buy" and an average target price of $7.89.

TeraWulf Trading Down 2.6%

The company has a market cap of $1.44 billion, a price-to-earnings ratio of -11.33 and a beta of 3.09. 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 business's 50 day moving average price is $3.49 and its 200-day moving average price is $4.34.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced 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). The firm had revenue of $34.41 million for the quarter, compared to analyst estimates of $45.72 million. TeraWulf had a negative return on equity of 42.09% and a negative net margin of 94.09%. The company's quarterly revenue was down 18.9% on a year-over-year basis. On average, research analysts forecast that TeraWulf Inc. will post -0.17 EPS for the current year.

Institutional Investors Weigh In On TeraWulf

A number of hedge funds have recently made changes to their positions in WULF. Senator Investment Group LP acquired a new stake in shares of TeraWulf during the 4th quarter worth about $24,371,000. Hodges Capital Management Inc. increased its position in shares of TeraWulf by 17,747.4% during the 1st quarter. Hodges Capital Management Inc. now owns 3,569,479 shares of the company's stock worth $9,745,000 after purchasing an additional 3,549,479 shares in the last quarter. Science & Technology Partners L.P. acquired a new stake in shares of TeraWulf during the 4th quarter worth about $18,606,000. BIT Capital GmbH increased its position in shares of TeraWulf by 169.4% during the 4th quarter. BIT Capital GmbH now owns 3,975,768 shares of the company's stock worth $22,503,000 after purchasing an additional 2,499,865 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of TeraWulf during the 4th quarter worth about $10,970,000. Institutional investors and hedge funds own 62.49% of the company's stock.

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.