TeraWulf (NASDAQ:WULF) Shares Gap Down - Here's Why

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $5.26, but opened at $4.99. TeraWulf shares last traded at $4.68, with a volume of 8,364,682 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WULF. JMP Securities initiated coverage on TeraWulf in a report on Thursday, May 22nd. They set a "market outperform" rating and a $7.00 price target on the stock. 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. Rosenblatt Securities upped 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 started coverage on shares of TeraWulf in a report on Monday, March 31st. They set a "buy" rating and a $4.00 price target for the company. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, TeraWulf has a consensus rating of "Buy" and a consensus target price of $7.89.

TeraWulf Trading Down 8.7%

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 fifty day moving average price is $3.86 and its two-hundred day moving average price is $4.08.

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

Institutional Investors Weigh In On TeraWulf

A number of large investors have recently added to or reduced their stakes in the stock. CoreCap Advisors LLC boosted its stake in TeraWulf by 67.9% during the 4th quarter. CoreCap Advisors LLC now owns 7,554 shares of the company's stock valued at $43,000 after purchasing an additional 3,054 shares during the period. Xponance Inc. boosted its position in shares of TeraWulf by 22.7% in the fourth quarter. Xponance Inc. now owns 19,156 shares of the company's stock valued at $108,000 after acquiring an additional 3,545 shares during the period. Voya Investment Management LLC grew its stake in shares of TeraWulf by 4.8% in the fourth quarter. Voya Investment Management LLC now owns 78,815 shares of the company's stock worth $446,000 after acquiring an additional 3,628 shares during the last quarter. Apollon Wealth Management LLC increased its position in TeraWulf by 18.5% during the first quarter. Apollon Wealth Management LLC now owns 31,532 shares of the company's stock worth $86,000 after acquiring an additional 4,920 shares during the period. Finally, Summit Investment Advisors Inc. raised its stake in TeraWulf by 24.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 27,993 shares of the company's stock valued at $158,000 after purchasing an additional 5,445 shares during the last quarter. Institutional investors 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.