TeraWulf (NASDAQ:WULF) Stock Price Down 6.5% – Time to Sell?

TeraWulf Inc. (NASDAQ:WULF) shares were down 6.5% during mid-day trading on Monday . The stock traded as low as $13.22 and last traded at $13.20. Approximately 8,983,822 shares were traded during trading, a decline of 59% from the average daily volume of 21,662,838 shares. The stock had previously closed at $14.12.

Analyst Upgrades and Downgrades

WULF has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods raised TeraWulf from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $9.50 to $24.00 in a report on Wednesday, December 31st. Weiss Ratings restated a “sell (d-)” rating on shares of TeraWulf in a report on Monday, December 29th. Oppenheimer started coverage on shares of TeraWulf in a research report on Tuesday, October 28th. They set an “outperform” rating and a $20.00 price objective for the company. Citizens Jmp raised their target price on shares of TeraWulf from $18.00 to $22.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 29th. Finally, Compass Point set a $17.00 price objective on TeraWulf and gave the company a “neutral” rating in a research report on Tuesday, October 28th. Twelve analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $19.15.

TeraWulf Stock Performance

The firm has a market capitalization of $5.77 billion, a PE ratio of -9.71 and a beta of 3.69. 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 firm’s fifty day moving average price is $13.26 and its 200 day moving average price is $11.13.

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

Insider Transactions at TeraWulf

In other news, Director Michael C. Bucella bought 4,178 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were purchased at an average price of $12.01 per share, for a total transaction of $50,177.78. Following the acquisition, the director directly owned 266,958 shares of the company’s stock, valued at $3,206,165.58. The trade was a 1.59% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 19.90% of the company’s stock.

Hedge Funds Weigh In On TeraWulf

Several large investors have recently made changes to their positions in the business. Comerica Bank grew its holdings in TeraWulf by 3,748.5% in the 1st quarter. Comerica Bank now owns 12,700 shares of the company’s stock valued at $35,000 after buying an additional 12,370 shares during the last quarter. Millennium Management LLC grew its stake in shares of TeraWulf by 47.8% in the first quarter. Millennium Management LLC now owns 2,456,045 shares of the company’s stock worth $6,705,000 after acquiring an additional 793,832 shares during the last quarter. Camelot Portfolios LLC bought a new position in TeraWulf during the second quarter worth $88,000. Greenleaf Trust acquired a new position in TeraWulf during the 2nd quarter valued at $83,000. Finally, 111 Capital bought a new stake in TeraWulf in the 2nd quarter valued at $129,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

About TeraWulf

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.