TeraWulf (NASDAQ:WULF) Stock Price Down 5.8% – What’s Next?

Shares of TeraWulf Inc. (NASDAQ:WULF) traded down 5.8% on Tuesday . The stock traded as low as $12.95 and last traded at $12.8250. 7,081,307 shares were traded during mid-day trading, a decline of 63% from the average session volume of 19,060,932 shares. The stock had previously closed at $13.62.

Wall Street Analyst Weigh In

WULF has been the subject of several research reports. Citigroup reiterated a “market outperform” rating on shares of TeraWulf in a report on Tuesday, November 11th. 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 on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $18.00 target price on shares of TeraWulf in a research report on Tuesday, December 23rd. UBS Group set a $18.25 price target on shares of TeraWulf in a research note on Friday, October 24th. Finally, JMP Securities set a $22.00 price target on shares of TeraWulf in a report on Wednesday, October 29th. Twelve analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $19.15.

TeraWulf Stock Up 2.8%

The stock has a market cap of $5.38 billion, a P/E ratio of -9.04 and a beta of 3.69. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 4.45. The business has a 50-day simple moving average of $13.30 and a 200-day simple moving average of $10.34.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Monday, November 10th. The company reported ($1.13) earnings per share for the quarter, missing analysts’ consensus estimates 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 business’s revenue for the quarter was up 86.9% compared to the same quarter last year. Analysts expect that TeraWulf Inc. will post -0.17 EPS for the current year.

Insider Activity at TeraWulf

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

Institutional Trading of TeraWulf

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WULF. Nisa Investment Advisors LLC lifted its holdings in shares of TeraWulf by 135.6% during the second quarter. Nisa Investment Advisors LLC now owns 6,575 shares of the company’s stock worth $29,000 after buying an additional 3,784 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in TeraWulf by 265.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 6,609 shares of the company’s stock valued at $29,000 after purchasing an additional 4,800 shares during the last quarter. Advisory Services Network LLC bought a new stake in TeraWulf in the 3rd quarter valued at $29,000. Advisors Asset Management Inc. boosted its holdings in TeraWulf by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 6,767 shares of the company’s stock valued at $30,000 after purchasing an additional 2,748 shares during the period. Finally, Arete Wealth Advisors LLC acquired a new stake in TeraWulf in the 1st quarter worth $33,000. 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.