TeraWulf (NASDAQ:WULF) Shares Down 6.1%

TeraWulf Inc. (NASDAQ:WULF)’s share price fell 6.1% during trading on Tuesday . The company traded as low as $4.56 and last traded at $4.59. 6,212,758 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 19,910,793 shares. The stock had previously closed at $4.89.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of TeraWulf in a report on Tuesday, September 3rd. Roth Mkm reaffirmed a “buy” rating and issued a $6.50 price target on shares of TeraWulf in a report on Monday, July 8th. Roth Capital raised TeraWulf to a “strong-buy” rating in a research note on Tuesday, July 2nd. B. Riley restated a “buy” rating and set a $6.00 target price on shares of TeraWulf in a research report on Monday, August 26th. Finally, Rosenblatt Securities raised their price target on TeraWulf from $4.20 to $5.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, TeraWulf has an average rating of “Buy” and a consensus target price of $5.71.

TeraWulf Stock Up 9.8 %

The business has a fifty day moving average price of $4.35 and a 200-day moving average price of $3.42.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.03) EPS for the quarter. TeraWulf had a negative net margin of 41.67% and a negative return on equity of 19.77%. The business had revenue of $35.57 million for the quarter, compared to the consensus estimate of $35.73 million. As a group, research analysts anticipate that TeraWulf Inc. will post -0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Miracle Mile Advisors LLC purchased a new stake in TeraWulf during the 1st quarter valued at about $29,000. Partners Capital Investment Group LLP bought a new position in shares of TeraWulf in the fourth quarter worth approximately $29,000. Amalgamated Bank increased its stake in shares of TeraWulf by 57.7% in the second quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock worth $35,000 after buying an additional 2,912 shares during the period. ARS Investment Partners LLC bought a new stake in TeraWulf during the 2nd quarter valued at $44,000. Finally, Pekin Hardy Strauss Inc. purchased a new stake in TeraWulf during the 2nd quarter valued at $44,000. 62.49% of the stock is owned by 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.