TeraWulf (NASDAQ:WULF) Shares Gap Down – Should You Sell?

TeraWulf Inc. (NASDAQ:WULF) gapped down before the market opened on Monday . The stock had previously closed at $3.89, but opened at $3.69. TeraWulf shares last traded at $3.78, with a volume of 7,191,783 shares.

Wall Street Analyst Weigh In

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

TeraWulf Trading Down 2.0%

The stock has a market capitalization of $1.51 billion, a P/E ratio of -11.88 and a beta of 3.00. The business’s fifty day simple moving average is $2.95 and its two-hundred day simple moving average is $4.86.

TeraWulf (NASDAQ:WULF) last released its 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 during the quarter, compared to the consensus estimate of $45.72 million. The company’s revenue was down 18.9% compared to the same quarter last year. On average, equities research analysts anticipate that TeraWulf Inc. will post -0.17 earnings per share for the current year.

Institutional Trading of TeraWulf

A number of hedge funds have recently modified their holdings of WULF. Vanguard Group Inc. raised its stake in shares of TeraWulf by 2.3% in the first quarter. Vanguard Group Inc. now owns 23,880,134 shares of the company’s stock valued at $65,193,000 after purchasing an additional 534,315 shares in the last quarter. Driehaus Capital Management LLC raised its stake in shares of TeraWulf by 3.4% in the 4th quarter. Driehaus Capital Management LLC now owns 12,733,291 shares of the company’s stock valued at $72,070,000 after buying an additional 412,877 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of TeraWulf by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 7,636,552 shares of the company’s stock worth $43,232,000 after acquiring an additional 453,429 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of TeraWulf by 21.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,369,381 shares of the company’s stock valued at $30,387,000 after acquiring an additional 955,795 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in TeraWulf by 74.2% in the fourth quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company’s stock valued at $26,964,000 after acquiring an additional 2,028,383 shares during the period. Institutional investors own 62.49% of the company’s stock.

About TeraWulf

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.