TeraWulf (NASDAQ:WULF) Stock Price Down 7.2% – Time to Sell?

TeraWulf Inc. (NASDAQ:WULF) shares traded down 7.2% during trading on Thursday . The stock traded as low as $3.41 and last traded at $3.40. 2,822,397 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 29,408,056 shares. The stock had previously closed at $3.66.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Jones Trading assumed coverage on TeraWulf in a research report on Monday, March 31st. They issued a “buy” rating and a $4.00 price target for the company. Rosenblatt Securities dropped their price target on TeraWulf from $4.50 to $4.00 and set a “buy” rating for the company in a research report on Monday, May 12th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, TeraWulf currently has a consensus rating of “Buy” and a consensus price target of $7.86.

TeraWulf Stock Up 10.5%

The company’s 50 day moving average price is $2.92 and its two-hundred day moving average price is $4.90. The stock has a market cap of $1.50 billion, a P/E ratio of -11.79 and a beta of 3.00.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings results on Friday, May 9th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.09). TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The company had revenue of $34.41 million for the quarter, compared to the consensus estimate of $45.72 million. The firm’s revenue was down 18.9% compared to the same quarter last year. As a group, equities research analysts forecast that TeraWulf Inc. will post -0.17 earnings per share for the current year.

Institutional Trading of TeraWulf

Several institutional investors and hedge funds have recently modified their holdings of WULF. Arete Wealth Advisors LLC bought a new position in TeraWulf in the first quarter worth approximately $33,000. First Dallas Securities Inc. bought a new position in TeraWulf in the first quarter worth approximately $160,000. Two Seas Capital LP bought a new position in TeraWulf in the first quarter worth approximately $585,000. Uniplan Investment Counsel Inc. raised its stake in TeraWulf by 20.9% in the first quarter. Uniplan Investment Counsel Inc. now owns 673,716 shares of the company’s stock worth $1,839,000 after buying an additional 116,341 shares in the last quarter. Finally, Millennium Management LLC raised its stake in 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 buying an additional 793,832 shares in the last quarter. Institutional investors 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.