TeraWulf (NASDAQ:WULF) Shares Gap Down to $3.67

TeraWulf Inc. (NASDAQ:WULF)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $3.67, but opened at $2.84. TeraWulf shares last traded at $3.28, with a volume of 8,889,811 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WULF. Roth Capital upgraded shares of TeraWulf to a “strong-buy” rating in a research report on Tuesday, July 2nd. Cantor Fitzgerald lifted their price objective on TeraWulf from $9.00 to $10.00 and gave the company an “overweight” rating in a research report on Friday, July 5th. Roth Mkm reiterated a “buy” rating and set a $6.50 target price on shares of TeraWulf in a research report on Monday, July 8th. B. Riley lifted their price target on TeraWulf from $5.00 to $6.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Rosenblatt Securities initiated coverage on shares of TeraWulf in a research note on Tuesday, April 9th. They set a “buy” rating and a $4.20 price objective for the company. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $5.53.

TeraWulf Stock Down 2.7 %

The business has a fifty day moving average price of $4.27 and a 200 day moving average price of $2.86.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). TeraWulf had a negative net margin of 56.70% and a negative return on equity of 30.00%. The business had revenue of $42.43 million for the quarter, compared to analyst estimates of $41.86 million. As a group, equities research analysts anticipate that TeraWulf Inc. will post -0.07 earnings per share for the current year.

Insider Activity at TeraWulf

In related news, Treasurer Kenneth J. Deane sold 69,996 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $3.25, for a total value of $227,487.00. Following the completion of the sale, the treasurer now directly owns 337,245 shares in the company, valued at approximately $1,096,046.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 24.88% of the company’s stock.

Institutional Trading of TeraWulf

Several large investors have recently bought and sold shares of WULF. Apollon Wealth Management LLC purchased a new position in shares of TeraWulf in the fourth quarter valued at $27,000. Partners Capital Investment Group LLP acquired a new stake in shares of TeraWulf during the fourth quarter valued at about $29,000. Miracle Mile Advisors LLC purchased a new stake in shares of TeraWulf during the first quarter worth about $29,000. Global Retirement Partners LLC acquired a new position in shares of TeraWulf in the fourth quarter worth about $30,000. Finally, Financial Advocates Investment Management purchased a new position in TeraWulf in the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

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.