TeraWulf (NASDAQ:WULF) Stock Price Down 3.9% – Should You Sell?

TeraWulf Inc. (NASDAQ:WULF)’s stock price dropped 3.9% during trading on Tuesday . The company traded as low as $2.62 and last traded at $2.57. Approximately 4,855,659 shares traded hands during trading, a decline of 88% from the average daily volume of 41,516,441 shares. The stock had previously closed at $2.67.

Analysts Set New Price Targets

WULF has been the topic of several recent research reports. Jones Trading assumed coverage on shares of TeraWulf in a research report on Monday, March 31st. They set a “buy” rating and a $4.00 target price on the stock. Atb Cap Markets raised TeraWulf to a “strong-buy” rating in a report on Sunday, January 5th. Northland Securities reissued an “outperform” rating and issued a $10.00 target price on shares of TeraWulf in a report on Tuesday, December 24th. Rosenblatt Securities decreased their price target on TeraWulf from $10.00 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 price target on shares of TeraWulf in a research report on Monday, January 6th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $7.86.

TeraWulf Stock Performance

The stock has a 50-day moving average of $3.60 and a 200 day moving average of $5.29. The firm has a market capitalization of $857.97 million, a P/E ratio of -11.20 and a beta of 2.76.

TeraWulf (NASDAQ:WULF) 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 business had revenue of $35.00 million for the quarter, compared to the consensus estimate of $37.43 million. The business’s revenue was up 50.2% compared to the same quarter last year. On average, equities analysts predict that TeraWulf Inc. will post -0.17 EPS for the current year.

Institutional Trading of TeraWulf

Several hedge funds have recently modified their holdings of WULF. Charles Schwab Investment Management Inc. lifted its holdings in TeraWulf by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,469,948 shares of the company’s stock worth $13,980,000 after buying an additional 105,997 shares in the last quarter. State Street Corp raised its position in shares of TeraWulf by 3.8% during the third quarter. State Street Corp now owns 6,283,196 shares of the company’s stock worth $29,405,000 after acquiring an additional 227,186 shares during the last quarter. GoalVest Advisory LLC acquired a new position in shares of TeraWulf during the fourth quarter valued at $651,000. Barclays PLC boosted its holdings in TeraWulf by 419.7% in the third quarter. Barclays PLC now owns 424,748 shares of the company’s stock valued at $1,989,000 after acquiring an additional 343,016 shares during the last quarter. Finally, BIT Capital GmbH boosted its holdings in TeraWulf by 169.4% in the fourth quarter. BIT Capital GmbH now owns 3,975,768 shares of the company’s stock valued at $22,503,000 after acquiring an additional 2,499,865 shares during the last quarter. 62.49% of the stock is 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.