TeraWulf (NASDAQ:WULF) Trading Down 5.4%

TeraWulf Inc. (NASDAQ:WULF)’s stock price fell 5.4% during trading on Wednesday . The stock traded as low as $4.76 and last traded at $4.76. 13,983,797 shares were traded during trading, a decline of 31% from the average session volume of 20,193,920 shares. The stock had previously closed at $5.03.

Analyst Upgrades and Downgrades

Several brokerages have commented on WULF. Roth Capital raised shares of TeraWulf to a “strong-buy” rating in a research report on Tuesday, July 2nd. Roth Mkm reissued a “buy” rating and set a $6.50 price target on shares of TeraWulf in a research report on Monday. Rosenblatt Securities began coverage on shares of TeraWulf in a research report on Tuesday, April 9th. They set a “buy” rating and a $4.20 price target on the stock. Cantor Fitzgerald boosted their price target on shares of TeraWulf from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Friday, July 5th. Finally, Compass Point cut their price target on shares of TeraWulf from $4.50 to $3.50 and set a “buy” rating on the stock in a research report on Thursday, March 21st. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $5.35.

TeraWulf Stock Down 5.0 %

The stock’s fifty day moving average price is $3.26 and its 200-day moving average price is $2.50.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings results on Monday, May 13th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.07). The company had revenue of $42.43 million during the quarter, compared to the consensus estimate of $41.86 million. TeraWulf had a negative net margin of 56.70% and a negative return on equity of 30.00%. On average, analysts predict that TeraWulf Inc. will post -0.08 earnings per share for the current year.

Insider Buying and Selling at TeraWulf

In other TeraWulf news, Treasurer Kenneth J. Deane sold 69,996 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $3.25, for a total value of $227,487.00. Following the transaction, the treasurer now directly owns 337,245 shares of the company’s stock, valued at approximately $1,096,046.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 24.88% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its position in shares of TeraWulf by 16.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,082 shares of the company’s stock worth $119,000 after purchasing an additional 6,450 shares in the last quarter. PEAK6 Investments LLC acquired a new position in shares of TeraWulf during the 1st quarter worth approximately $64,000. Vanguard Group Inc. grew its position in shares of TeraWulf by 17.7% during the 1st quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock worth $30,830,000 after purchasing an additional 1,764,115 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of TeraWulf during the 1st quarter worth approximately $141,000. Finally, Quantbot Technologies LP acquired a new position in shares of TeraWulf during the 1st quarter worth approximately $204,000. Institutional investors and hedge funds 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.