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

TeraWulf Inc. (NASDAQ:WULF - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $3.67, but opened at $3.48. TeraWulf shares last traded at $3.21, with a volume of 8,009,250 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Rosenblatt Securities reissued a "buy" rating and issued a $10.00 target price on shares of TeraWulf in a report on Monday, March 3rd. Cantor Fitzgerald reissued an "overweight" rating and issued a $11.00 price target on shares of TeraWulf in a report on Monday, January 6th. B. Riley upped their price objective on TeraWulf from $8.00 to $10.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Needham & Company LLC reaffirmed a "buy" rating and issued a $9.50 target price on shares of TeraWulf in a research report on Monday, January 13th. Finally, Keefe, Bruyette & Woods began coverage on shares of TeraWulf in a report on Wednesday, January 8th. They set a "market perform" rating for the company. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, TeraWulf presently has a consensus rating of "Buy" and a consensus price target of $8.64.

TeraWulf Stock Down 14.7 %

The business's 50 day moving average is $5.02 and its two-hundred day moving average is $5.57. The firm has a market capitalization of $1.18 billion, a P/E ratio of -15.35 and a beta of 2.70.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its earnings results on Friday, February 28th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.04). TeraWulf had a negative return on equity of 15.91% and a negative net margin of 41.88%. The firm had revenue of $35.00 million for the quarter, compared to the consensus estimate of $37.43 million. TeraWulf's revenue for the quarter was up 50.2% compared to the same quarter last year. As a group, equities analysts anticipate that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TeraWulf

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Creative Planning acquired a new stake in shares of TeraWulf during the 3rd quarter valued at $54,000. TRU Independence Asset Management 2 LLC purchased a new position in TeraWulf during the 3rd quarter worth approximately $234,000. Victory Capital Management Inc. raised its stake in TeraWulf by 13.3% during the 3rd quarter. Victory Capital Management Inc. now owns 34,866 shares of the company's stock valued at $163,000 after purchasing an additional 4,093 shares during the period. KBC Group NV acquired a new stake in shares of TeraWulf in the third quarter worth $39,000. Finally, Sargent Investment Group LLC raised its position in TeraWulf by 11.7% during the third quarter. Sargent Investment Group LLC now owns 201,040 shares of the company's stock valued at $941,000 after buying an additional 21,040 shares during the period. 62.49% of the stock is currently owned by institutional investors.

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.