TeraWulf (NASDAQ:WULF) Trading Down 5.2% - Time to Sell?

TeraWulf Inc. (NASDAQ:WULF - Get Free Report)'s stock price traded down 5.2% during trading on Monday . The company traded as low as $3.52 and last traded at $3.55. 12,132,302 shares were traded during mid-day trading, a decline of 62% from the average session volume of 31,568,007 shares. The stock had previously closed at $3.74.

Analysts Set New Price Targets

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

TeraWulf Trading Down 3.7%

The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 3.03. The stock has a 50-day simple moving average of $3.49 and a two-hundred day simple moving average of $4.29. The firm has a market capitalization of $1.39 billion, a P/E ratio of -10.86 and a beta of 3.09.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its quarterly 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 company had revenue of $34.41 million during the quarter, compared to analysts' expectations of $45.72 million. The company's revenue was down 18.9% on a year-over-year basis. On average, equities research analysts anticipate that TeraWulf Inc. will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CoreCap Advisors LLC grew its stake in TeraWulf by 67.9% during the 4th quarter. CoreCap Advisors LLC now owns 7,554 shares of the company's stock worth $43,000 after buying an additional 3,054 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in TeraWulf during the 1st quarter worth $29,000. Calamos Advisors LLC purchased a new position in TeraWulf during the 1st quarter worth $33,000. Forum Financial Management LP purchased a new position in TeraWulf during the 4th quarter worth $68,000. Finally, Arete Wealth Advisors LLC purchased a new stake in TeraWulf during the 1st quarter valued at about $33,000. 62.49% of the stock is currently owned by hedge funds and other 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.

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