TeraWulf (NASDAQ:WULF) Shares Down 11.6% – Here’s What Happened

TeraWulf Inc. (NASDAQ:WULF) traded down 11.6% on Monday . The stock traded as low as $13.52 and last traded at $12.6610. 3,294,280 shares were traded during mid-day trading, a decline of 93% from the average session volume of 44,331,359 shares. The stock had previously closed at $14.33.

Wall Street Analysts Forecast Growth

WULF has been the topic of several research reports. UBS Group set a $18.25 price target on TeraWulf in a research note on Friday, October 24th. Northland Securities set a $23.25 price objective on TeraWulf in a research report on Wednesday, October 29th. Needham & Company LLC restated a “buy” rating and issued a $21.00 target price on shares of TeraWulf in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of TeraWulf in a research note on Monday, December 8th. Finally, Oppenheimer began coverage on shares of TeraWulf in a report on Tuesday, October 28th. They issued an “outperform” rating and a $20.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, TeraWulf has an average rating of “Moderate Buy” and an average target price of $18.42.

TeraWulf Price Performance

The company’s 50 day moving average price is $13.87 and its 200 day moving average price is $9.33. The company has a debt-to-equity ratio of 4.45, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $5.35 billion, a price-to-earnings ratio of -9.00 and a beta of 3.83.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings data 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 for 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 revenue for the quarter was up 86.9% compared to the same quarter last year. On average, equities research analysts predict that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

Insider Transactions at TeraWulf

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Value Aligned Research Advisors LLC acquired a new position in TeraWulf during the 3rd quarter worth about $12,984,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of TeraWulf during the third quarter worth approximately $673,000. IFP Advisors Inc acquired a new position in shares of TeraWulf during the third quarter worth approximately $116,000. Swiss Life Asset Management Ltd bought a new stake in shares of TeraWulf during the third quarter valued at approximately $167,000. Finally, Steadtrust LLC acquired a new stake in shares of TeraWulf in the third quarter valued at approximately $166,000. 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.