TeraWulf (NASDAQ:WULF) Shares Gap Down – Here’s Why

TeraWulf Inc. (NASDAQ:WULF) gapped down before the market opened on Friday . The stock had previously closed at $3.21, but opened at $3.09. TeraWulf shares last traded at $3.12, with a volume of 6,020,704 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Rosenblatt Securities reissued a “buy” rating and set a $10.00 price objective on shares of TeraWulf in a research report on Monday, March 3rd. Atb Cap Markets raised TeraWulf to a “strong-buy” rating in a research report on Sunday, January 5th. B. Riley boosted their price objective on TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Cantor Fitzgerald restated an “overweight” rating and set a $11.00 price target on shares of TeraWulf in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods initiated coverage on TeraWulf in a research note on Wednesday, January 8th. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, TeraWulf has an average rating of “Buy” and a consensus target price of $9.50.

TeraWulf Price Performance

The stock has a market capitalization of $1.23 billion, a P/E ratio of -16.00 and a beta of 2.70. The firm has a 50 day moving average of $4.51 and a 200-day moving average of $5.47.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings data on Friday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.04). TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The company had revenue of $35.00 million during the quarter, compared to the consensus estimate of $37.43 million. The company’s quarterly revenue was up 50.2% on a year-over-year basis. As a group, equities analysts expect that TeraWulf Inc. will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On TeraWulf

A number of large investors have recently bought and sold shares of WULF. Senator Investment Group LP bought a new stake in TeraWulf during the 4th quarter worth approximately $24,371,000. Science & Technology Partners L.P. acquired a new position in TeraWulf during the 4th quarter worth $18,606,000. BIT Capital GmbH lifted its holdings in TeraWulf by 169.4% during the 4th quarter. BIT Capital GmbH now owns 3,975,768 shares of the company’s stock worth $22,503,000 after buying an additional 2,499,865 shares in the last quarter. Van ECK Associates Corp lifted its holdings in TeraWulf by 74.2% during the 4th quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company’s stock worth $26,964,000 after buying an additional 2,028,383 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in TeraWulf during the 4th quarter worth $10,970,000. 62.49% of the stock is currently owned by institutional investors.

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.