TeraWulf (NASDAQ:WULF) Stock Falls 12% – Here’s Why

TeraWulf Inc. (NASDAQ:WULF) shares fell 12% during trading on Thursday. The company traded as low as $11.26 and last traded at $11.2350. Approximately 30,063,127 shares were traded during mid-day trading, a decline of 6% from the average daily volume of 31,942,340 shares. The stock had previously closed at $12.76.

Wall Street Analyst Weigh In

WULF has been the subject of a number of analyst reports. Cantor Fitzgerald reduced their price target on TeraWulf from $37.00 to $30.00 and set an “overweight” rating for the company in a report on Friday, October 16th. Keefe, Bruyette & Woods reduced their price objective on TeraWulf from $33.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, July 28th. TD Cowen began coverage on TeraWulf in a research report on Monday, October 12th. They issued a “buy” rating and a $21.00 price target for the company. Compass Point set a $40.00 target price on shares of TeraWulf in a research note on Monday, July 6th. Finally, UBS Group started coverage on TeraWulf in a research report on Wednesday, September 23rd. They issued a “buy” rating and a $24.00 price objective for the company. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.52.

TeraWulf Stock Down 11.3%

The firm has a 50-day moving average price of $15.28 and a two-hundred day moving average price of $19.57. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of -2.59 and a beta of 3.80. The company has a debt-to-equity ratio of 27.25, a quick ratio of 0.75 and a current ratio of 0.75.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.70). TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The business had revenue of $44.77 million during the quarter, compared to analyst estimates of $46.00 million. During the same period last year, the company earned ($0.05) earnings per share. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. On average, sell-side analysts forecast that TeraWulf Inc. will post -1.00 earnings per share for the current year.

Insider Buying and Selling at TeraWulf

In other TeraWulf news, CEO Paul B. Prager sold 137,500 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $17.06, for a total value of $2,345,750.00. Following the sale, the chief executive officer owned 3,807,552 shares of the company’s stock, valued at approximately $64,956,837.12. This represents a 3.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Bucella acquired 6,085 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was acquired at an average price of $14.79 per share, for a total transaction of $89,997.15. Following the completion of the transaction, the director directly owned 350,789 shares in the company, valued at approximately $5,188,169.31. This represents a 1.77% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have acquired 11,968 shares of company stock valued at $189,962. 15.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TeraWulf

Several hedge funds have recently modified their holdings of WULF. CoreCap Advisors LLC increased its holdings in shares of TeraWulf by 106.7% during the 2nd quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock worth $36,000 after buying an additional 747 shares during the last quarter. First United Bank & Trust purchased a new stake in shares of TeraWulf in the first quarter worth about $37,000. Ameritas Advisory Services LLC acquired a new position in TeraWulf during the 2nd quarter worth approximately $41,000. Summit Securities Group LLC acquired a new position in TeraWulf during the 1st quarter worth approximately $48,000. Finally, Solstein Capital LLC acquired a new stake in TeraWulf in the second quarter valued at approximately $74,000. 62.49% of the stock is owned by institutional investors and hedge funds.

About TeraWulf

TeraWulf Inc is a digital asset infrastructure company focused primarily on developing and operating environmentally conscious data centers for bitcoin mining and other high-performance computing applications. The company emphasizes the use of low-carbon energy, including nuclear and hydroelectric power, to support energy-intensive computing operations.

TeraWulf operates mining and data center facilities in the United States, including the Lake Mariner site in New York and the Nautilus Cryptomine facility in Pennsylvania.