TeraWulf (NASDAQ:WULF) Trading Down 8.3%

TeraWulf Inc. (NASDAQ:WULF)’s share price traded down 8.3% on Monday . The stock traded as low as $3.77 and last traded at $3.89. 1,497,487 shares were traded during mid-day trading, a decline of 92% from the average session volume of 19,816,598 shares. The stock had previously closed at $4.24.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 target price on shares of TeraWulf in a research report on Tuesday, September 3rd. Roth Capital raised TeraWulf to a “strong-buy” rating in a research report on Tuesday, July 2nd. Rosenblatt Securities boosted their target price on TeraWulf from $4.20 to $5.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. B. Riley reaffirmed a “buy” rating and set a $6.00 price target on shares of TeraWulf in a research note on Monday, August 26th. Finally, Needham & Company LLC assumed coverage on TeraWulf in a research note on Wednesday, September 4th. They issued a “buy” rating and a $6.00 price target for the company. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $5.71.

TeraWulf Price Performance

The business has a 50-day simple moving average of $4.46 and a two-hundred day simple moving average of $3.32.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter. TeraWulf had a negative return on equity of 19.77% and a negative net margin of 41.67%. The company had revenue of $35.57 million during the quarter, compared to analyst estimates of $35.73 million. Sell-side analysts expect that TeraWulf Inc. will post -0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. acquired a new stake in shares of TeraWulf in the second quarter valued at about $22,443,000. Hood River Capital Management LLC bought a new stake in TeraWulf during the 2nd quarter valued at approximately $20,532,000. Van ECK Associates Corp grew its holdings in TeraWulf by 50.8% in the 1st quarter. Van ECK Associates Corp now owns 6,733,179 shares of the company’s stock valued at $17,708,000 after buying an additional 2,268,870 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in TeraWulf in the 2nd quarter valued at approximately $9,948,000. Finally, Duquesne Family Office LLC bought a new position in TeraWulf in the 2nd quarter worth approximately $9,301,000. 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.