TeraWulf (NASDAQ:WULF) Shares Gap Down – Here’s Why

by · The Markets Daily

TeraWulf Inc. (NASDAQ:WULF – Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $16.02, but opened at $14.42. TeraWulf shares last traded at $14.75, with a volume of 17,181,245 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $21.00 target price on shares of TeraWulf in a research report on Tuesday, February 3rd. Rosenblatt Securities upped their price objective on TeraWulf from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Friday. Morgan Stanley began coverage on shares of TeraWulf in a research report on Monday, February 9th. They set an “overweight” rating and a $37.00 target price on the stock. Citigroup reissued a “market outperform” rating on shares of TeraWulf in a report on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TeraWulf in a research note on Monday, December 29th. Twelve research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, TeraWulf currently has a consensus rating of “Moderate Buy” and an average price target of $20.69.

View Our Latest Analysis on WULF

TeraWulf Stock Performance

The company’s 50-day moving average price is $14.22 and its two-hundred day moving average price is $13.00. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of -9.39 and a beta of 3.66. The company has a debt-to-equity ratio of 4.45, a current ratio of 1.03 and a quick ratio of 1.03.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in WULF. Vanguard Group Inc. lifted its stake in TeraWulf by 37.4% in the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock valued at $386,558,000 after buying an additional 9,162,958 shares during the period. Bank of America Corp DE lifted its position in shares of TeraWulf by 22.2% during the 2nd quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock valued at $63,038,000 after acquiring an additional 2,617,617 shares during the period. Morgan Stanley boosted its stake in TeraWulf by 8.1% during the fourth quarter. Morgan Stanley now owns 9,641,209 shares of the company’s stock worth $110,778,000 after acquiring an additional 724,286 shares in the last quarter. Geode Capital Management LLC boosted its stake in TeraWulf by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company’s stock worth $96,274,000 after acquiring an additional 318,842 shares in the last quarter. Finally, State Street Corp grew its holdings in TeraWulf by 4.2% in the fourth quarter. State Street Corp now owns 7,349,508 shares of the company’s stock worth $84,446,000 after purchasing an additional 298,645 shares during the period. 62.49% of the stock is owned by institutional investors and hedge funds.

TeraWulf Company Profile

(Get Free Report)

TeraWulf, Inc (NASDAQ: WULF) is a digital asset infrastructure company focused on the development and operation of zero-carbon bitcoin mining facilities. The company integrates sustainable power generation with high-density data center technologies to deliver environmentally responsible digital asset mining services. Its core business revolves around designing, building and operating large-scale mining projects powered exclusively by renewable or emissions-free energy sources.

One of TeraWulf’s flagship projects is “Project Nautilus,” located in Tompkins County, New York, which harnesses hydroelectric power sourced from the New York State Electric & Gas (NYSEG) grid.

Featured Articles