TeraWulf (NASDAQ:WULF) Trading Down 6.4%

TeraWulf Inc. (NASDAQ:WULF)’s share price traded down 6.4% during trading on Tuesday . The company traded as low as $4.38 and last traded at $4.38. 3,560,738 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 19,944,250 shares. The stock had previously closed at $4.68.

Analysts Set New Price Targets

WULF has been the topic of several recent analyst reports. Rosenblatt Securities boosted their target price on shares of TeraWulf from $4.20 to $5.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Roth Mkm restated a “buy” rating and set a $6.50 price objective on shares of TeraWulf in a research report on Monday, July 8th. Roth Capital raised shares of TeraWulf to a “strong-buy” rating in a research report on Tuesday, July 2nd. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price target on shares of TeraWulf in a report on Tuesday, September 3rd. Finally, B. Riley reiterated a “buy” rating and issued a $6.00 target price on shares of TeraWulf in a research report on Monday, August 26th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, TeraWulf currently has a consensus rating of “Buy” and an average price target of $5.71.

TeraWulf Stock Performance

The business’s fifty day moving average price is $4.27 and its two-hundred day moving average price is $3.54.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter. TeraWulf had a negative return on equity of 19.77% and a negative net margin of 41.67%. The company had revenue of $35.57 million during the quarter, compared to analyst estimates of $35.73 million. On average, sell-side analysts forecast that TeraWulf Inc. will post -0.11 earnings per share for the current fiscal year.

Institutional Trading of TeraWulf

Large investors have recently modified their holdings of the company. Miracle Mile Advisors LLC bought a new stake in TeraWulf during the first quarter valued at about $29,000. Amalgamated Bank boosted its stake in TeraWulf by 57.7% during the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after purchasing an additional 2,912 shares during the period. ARS Investment Partners LLC acquired a new stake in TeraWulf in the 2nd quarter valued at approximately $44,000. Pekin Hardy Strauss Inc. bought a new position in TeraWulf in the 2nd quarter worth approximately $44,000. Finally, PEAK6 Investments LLC acquired a new position in shares of TeraWulf during the first quarter worth approximately $64,000. 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.