TeraWulf (NASDAQ:WULF) Shares Down 4.6% - What's Next?

TeraWulf Inc. (NASDAQ:WULF - Get Free Report)'s stock price dropped 4.6% during trading on Thursday . The stock traded as low as $4.04 and last traded at $4.04. Approximately 8,189,686 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 30,966,679 shares. The stock had previously closed at $4.24.

Analyst Ratings Changes

A number of research firms have weighed in on WULF. Citizens Jmp upgraded TeraWulf to a "strong-buy" rating and set a $7.00 target price for the company in a report on Thursday, May 22nd. Jones Trading started coverage on shares of TeraWulf in a research note on Monday, March 31st. They issued a "buy" rating and a $4.00 target price for the company. Rosenblatt Securities dropped their price target on TeraWulf from $4.50 to $4.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. 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 on the stock. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, TeraWulf currently has an average rating of "Buy" and an average price target of $7.67.

TeraWulf Stock Performance

The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of -13.33 and a beta of 3.09. The company has a 50 day moving average price of $3.13 and a two-hundred day moving average price of $4.57.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its earnings results on Friday, May 9th. The company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.09). TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The firm had revenue of $34.41 million for the quarter, compared to analyst estimates of $45.72 million. TeraWulf's quarterly revenue was down 18.9% compared to the same quarter last year. On average, equities analysts expect that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of TeraWulf

Several large investors have recently bought and sold shares of WULF. CoreCap Advisors LLC raised 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 purchasing an additional 3,054 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new position in TeraWulf in the first quarter valued at $29,000. Calamos Advisors LLC purchased a new position in shares of TeraWulf in the 1st quarter valued at about $33,000. Forum Financial Management LP acquired a new position in TeraWulf during the 4th quarter worth approximately $68,000. Finally, Arete Wealth Advisors LLC acquired a new position in shares of TeraWulf during the first quarter worth $33,000. Hedge funds and other 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.