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

TeraWulf Inc. (NASDAQ:WULF) shares gapped down prior to trading on Tuesday . The stock had previously closed at $16.02, but opened at $14.42. TeraWulf shares last traded at $14.75, with a volume of 17,181,245 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $21.00 price target on shares of TeraWulf in a report on Tuesday, February 3rd. Cantor Fitzgerald raised their price target on shares of TeraWulf from $18.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Citigroup restated a “market outperform” rating on shares of TeraWulf in a research report on Tuesday, November 11th. Rosenblatt Securities increased their price target on TeraWulf from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, Morgan Stanley started coverage on TeraWulf in a report on Monday, February 9th. They issued an “overweight” rating and a $37.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $20.69.

TeraWulf Stock Performance

The stock has a fifty day simple moving average of $14.33 and a two-hundred day simple moving average of $13.05. The company has a debt-to-equity ratio of 33.00, a quick ratio of 1.03 and a current ratio of 2.00. The stock has a market cap of $6.52 billion, a price-to-earnings ratio of -9.43 and a beta of 3.67.

Insider Transactions at TeraWulf

In other TeraWulf news, Director Michael C. Bucella bought 3,171 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were purchased at an average price of $15.78 per share, for a total transaction of $50,038.38. Following the completion of the transaction, the director directly owned 270,129 shares in the company, valued at approximately $4,262,635.62. The trade was a 1.19% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 19.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TeraWulf

Hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC acquired a new position in TeraWulf during the 3rd quarter worth approximately $29,000. Vermillion Wealth Management Inc. grew its stake in shares of TeraWulf by 1,191.0% during the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock worth $30,000 after buying an additional 2,394 shares during the last quarter. Solstein Capital LLC acquired a new position in shares of TeraWulf during the fourth quarter worth $34,000. GPS Wealth Strategies Group LLC increased its holdings in shares of TeraWulf by 366.2% during the third quarter. GPS Wealth Strategies Group LLC now owns 3,590 shares of the company’s stock worth $41,000 after buying an additional 2,820 shares in the last quarter. Finally, Activest Wealth Management bought a new position in shares of TeraWulf in the 4th quarter valued at $46,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.

TeraWulf Company Profile

TeraWulf, Inc (NASDAQ: WULF) is a digital asset infrastructure company focused on the development and operation of zero-carbon bitcoin mining facilities. The company integrates sustainable power generation with high-density data center technologies to deliver environmentally responsible digital asset mining services. Its core business revolves around designing, building and operating large-scale mining projects powered exclusively by renewable or emissions-free energy sources.

One of TeraWulf’s flagship projects is “Project Nautilus,” located in Tompkins County, New York, which harnesses hydroelectric power sourced from the New York State Electric & Gas (NYSEG) grid.