TeraWulf (NASDAQ:WULF) Shares Gap Down to $5.21

Shares of TeraWulf Inc. (NASDAQ:WULF) gapped down prior to trading on Friday . The stock had previously closed at $5.21, but opened at $4.91. TeraWulf shares last traded at $4.82, with a volume of 1,713,249 shares trading hands.

Analysts Set New Price Targets

Several research firms recently commented on WULF. Rosenblatt Securities assumed coverage on TeraWulf in a research report on Tuesday, April 9th. They set a “buy” rating and a $4.20 price target on the stock. Cantor Fitzgerald upped their target price on shares of TeraWulf from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Friday. Roth Mkm started coverage on shares of TeraWulf in a research note on Tuesday. They set a “buy” rating and a $6.50 price target on the stock. B. Riley upped their price objective on shares of TeraWulf from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Compass Point cut their price target on TeraWulf from $4.50 to $3.50 and set a “buy” rating on the stock in a research note on Thursday, March 21st. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, TeraWulf currently has an average rating of “Buy” and a consensus target price of $5.35.

TeraWulf Stock Down 4.2 %

The business has a 50 day simple moving average of $3.08 and a 200-day simple moving average of $2.43.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Monday, May 13th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $42.43 million during the quarter, compared to the consensus estimate of $41.86 million. On average, equities research analysts anticipate that TeraWulf Inc. will post -0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other TeraWulf 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 transaction of $227,487.00. Following the completion of the transaction, the treasurer now directly owns 337,245 shares of the company’s stock, valued at approximately $1,096,046.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 24.88% of the stock is owned by insiders.

Hedge Funds Weigh In On TeraWulf

Several large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its stake in TeraWulf by 16.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 45,082 shares of the company’s stock valued at $119,000 after purchasing an additional 6,450 shares during the last quarter. Miracle Mile Advisors LLC bought a new stake in shares of TeraWulf during the 1st quarter worth $29,000. Apollon Wealth Management LLC purchased a new stake in shares of TeraWulf during the fourth quarter valued at $27,000. Delta Financial Group Inc. increased its stake in TeraWulf by 33.6% in the 1st quarter. Delta Financial Group Inc. now owns 44,100 shares of the company’s stock worth $116,000 after purchasing an additional 11,100 shares in the last quarter. Finally, Partners Capital Investment Group LLP acquired a new stake in TeraWulf during the 4th quarter worth about $29,000. Institutional investors own 62.49% of the company’s stock.

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.