TeraWulf (NASDAQ:WULF) Trading Down 11.6% – Should You Sell?

by · The Markets Daily

TeraWulf Inc. (NASDAQ:WULF – Get Free Report)’s share price dropped 11.6% on Monday . The stock traded as low as $13.52 and last traded at $12.6610. Approximately 3,294,280 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 44,331,359 shares. The stock had previously closed at $14.33.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WULF. Oppenheimer started coverage on shares of TeraWulf in a research report on Tuesday, October 28th. They issued an “outperform” rating and a $20.00 target price for the company. B. Riley upped their price target on shares of TeraWulf from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Needham & Company LLC reissued a “buy” rating and set a $21.00 price objective on shares of TeraWulf in a research report on Tuesday, November 11th. Compass Point set a $17.00 target price on TeraWulf and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. Finally, Citigroup reiterated a “market outperform” rating on shares of TeraWulf in a report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.42.

View Our Latest Report on TeraWulf

TeraWulf Trading Down 10.8%

The stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of -9.00 and a beta of 3.83. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 4.45. The company has a fifty day moving average of $13.87 and a two-hundred day moving average of $9.33.

TeraWulf (NASDAQ:WULF – Get Free Report) last announced its quarterly earnings results on Monday, November 10th. The company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($0.04) by ($1.09). TeraWulf had a negative net margin of 336.53% and a negative return on equity of 69.75%. The company had revenue of $50.58 million for the quarter, compared to analyst estimates of $56.27 million. The company’s revenue was up 86.9% compared to the same quarter last year. On average, research analysts expect that TeraWulf Inc. will post -0.17 EPS for the current year.

Insider Buying and Selling

In other news, Director Michael C. Bucella bought 4,178 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was purchased at an average price of $12.01 per share, with a total value of $50,177.78. Following the transaction, the director directly owned 266,958 shares in the company, valued at approximately $3,206,165.58. The trade was a 1.59% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 19.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On TeraWulf

Large investors have recently made changes to their positions in the business. Voloridge Investment Management LLC acquired a new stake in TeraWulf in the 3rd quarter valued at approximately $69,006,000. Wellington Management Group LLP boosted its position in shares of TeraWulf by 36,193.2% in the third quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock valued at $44,559,000 after acquiring an additional 3,891,127 shares during the period. Hodges Capital Management Inc. grew its stake in shares of TeraWulf by 17,747.4% in the first quarter. Hodges Capital Management Inc. now owns 3,569,479 shares of the company’s stock worth $9,745,000 after acquiring an additional 3,549,479 shares during the last quarter. Bank of America Corp DE increased its position in TeraWulf by 22.2% during the second quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock worth $63,038,000 after acquiring an additional 2,617,617 shares during the period. Finally, Jump Financial LLC acquired a new position in TeraWulf during the 3rd quarter valued at $27,220,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

About TeraWulf

(Get Free Report)

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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