TeraWulf (NASDAQ:WULF) Shares Gap Down – What’s Next?

TeraWulf Inc. (NASDAQ:WULF)’s share price gapped down prior to trading 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 traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on WULF shares. Rosenblatt Securities reduced their target price on TeraWulf from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Monday, May 12th. Jones Trading began coverage on shares of TeraWulf in a report on Monday, March 31st. They issued a “buy” rating and a $4.00 price objective for the company. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $7.86.

TeraWulf Trading Down 0.2%

The firm has a market capitalization of $1.49 billion, a PE ratio of -11.77 and a beta of 3.00. The business’s 50 day simple moving average is $2.92 and its two-hundred day simple moving average is $4.88.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Friday, May 9th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $34.41 million for the quarter, compared to the consensus estimate of $45.72 million. TeraWulf’s revenue for the quarter was down 18.9% on a year-over-year basis. As a group, equities research analysts anticipate that TeraWulf Inc. will post -0.17 earnings per share for the current year.

Institutional Trading of TeraWulf

Several hedge funds have recently made changes to their positions in WULF. Senator Investment Group LP purchased a new stake in shares of TeraWulf during the 4th quarter valued at about $24,371,000. Science & Technology Partners L.P. purchased a new stake in shares of TeraWulf during the 4th quarter valued at about $18,606,000. BIT Capital GmbH raised its holdings in shares of TeraWulf by 169.4% in the fourth 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 during the period. Van ECK Associates Corp lifted its position in shares of TeraWulf by 74.2% during the fourth quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company’s stock worth $26,964,000 after purchasing an additional 2,028,383 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in TeraWulf in the 4th quarter valued at about $10,970,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

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.