TeraWulf (NASDAQ:WULF) Trading Down 4.2% – Here’s What Happened

TeraWulf Inc. (NASDAQ:WULF)’s share price dropped 4.2% on Wednesday . The stock traded as low as $13.43 and last traded at $13.6190. Approximately 6,636,411 shares traded hands during trading, a decline of 85% from the average daily volume of 44,840,473 shares. The stock had previously closed at $14.22.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on WULF shares. Roth Capital increased their price objective on shares of TeraWulf from $7.00 to $12.50 and gave the company a “buy” rating in a report on Friday, August 15th. Needham & Company LLC restated a “buy” rating and issued a $21.00 price target on shares of TeraWulf in a research report on Tuesday, November 11th. B. Riley increased their target price on TeraWulf from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. JMP Securities set a $22.00 target price on TeraWulf in a research report on Wednesday, October 29th. Finally, Northland Securities set a $23.25 price objective on shares of TeraWulf in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.42.

TeraWulf Trading Down 2.8%

The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of -10.32 and a beta of 3.83. The business’s fifty day moving average is $13.42 and its 200 day moving average is $8.79. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 4.45.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WULF. First Dallas Securities Inc. raised its position in TeraWulf by 126.5% during the second quarter. First Dallas Securities Inc. now owns 132,500 shares of the company’s stock worth $580,000 after acquiring an additional 74,000 shares in the last quarter. Hodges Capital Management Inc. raised its holdings in shares of TeraWulf by 17,747.4% in the 1st quarter. Hodges Capital Management Inc. now owns 3,569,479 shares of the company’s stock valued at $9,745,000 after purchasing an additional 3,549,479 shares during the period. Thames Capital Management LLC bought a new position in TeraWulf during the second quarter worth about $4,970,000. Nuveen LLC acquired a new position in TeraWulf during the first quarter worth approximately $1,770,000. Finally, Banco Bilbao Vizcaya Argentaria S.A. bought a new stake in TeraWulf in the first quarter valued at approximately $263,000. 62.49% of the stock is owned by institutional investors and hedge funds.

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.