TeraWulf (NASDAQ:WULF) Shares Gap Down - What's Next?

TeraWulf Inc. (NASDAQ:WULF) experienced a significant drop in share price before the market opened on Tuesday. The stock, which had previously closed at $3.67, opened at $3.48. As of the latest trading session, TeraWulf shares were last observed at $3.21, with a trading volume of 8,009,250 shares.

Analyst Ratings Changes

Analysts have been discussing TeraWulf's stock recently. Cantor Fitzgerald maintained an "overweight" rating on TeraWulf and set a price target of $11.00 in a report dated January 6. Similarly, B. Riley increased their price target from $8.00 to $10.00, rating the stock as a "buy" on December 19. ATB Cap Markets upgraded TeraWulf to a "strong-buy" rating, while Needham & Company LLC reiterated a "buy" rating and set a target price of $9.50. Northland Securities also expressed confidence by restating an "outperform" rating and targeting $10.00 per share. In total, one analyst holds a "hold" rating, while seven analysts rate it as a buy and two give it a strong buy rating. Collectively, the stock holds an average rating of "Buy" with a consensus target price of $8.64 according to data compiled from various research firms.

TeraWulf Stock Down 9.4 %

Currently, TeraWulf has a market capitalization of approximately $1.30 billion. The stock reflects a negative P/E ratio of -16.80 and a beta of 2.59, which indicates higher volatility than the market. The company's 50-day moving average stands at $5.06, while the 200-day moving average is at $5.56.

On February 28, TeraWulf announced its quarterly earnings, reporting earnings per share (EPS) of ($0.08), which fell short of the expected ($0.04) by $0.04. The company recorded a net margin of -41.88% and a negative return on equity of -15.91%. TeraWulf's revenue for the quarter reached $35.00 million, which was below the anticipated $37.43 million but showcased a 50.2% increase compared to the previous year. Looking ahead, analysts project that TeraWulf will report an EPS of -0.17 for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have made recent adjustments to their positions in TeraWulf. Matthew Hamilton Rosenberg acquired a new position valued at roughly $32,000 during the fourth quarter. FMR LLC increased its stake by 22.0% in the third quarter, owning 7,803 shares now worth $37,000 after an additional purchase of 1,408 shares. KBC Group NV also bought new shares worth $39,000 in the same quarter, while CoreCap Advisors LLC boosted their holdings by 67.9% during the fourth quarter, bringing their total to 7,554 shares valued at $43,000. Furthermore, Hodges Capital Management Inc. made a new purchase valued at $47,000 in the third quarter. Institutional ownership accounts for approximately 62.49% of TeraWulf's stock.

About TeraWulf

TeraWulf Inc. is a digital asset technology company based in the United States. It specializes in the development, ownership, and operation of bitcoin mining facilities located in New York and Pennsylvania. Additionally, TeraWulf provides miner hosting services for other companies. Established in 2021, the company is headquartered in Easton, Maryland.

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