TeraWulf (NASDAQ:WULF) Shares Down 9.4% After Earnings Miss

TeraWulf Inc. (NASDAQ:WULF) shares traded down 9.4% during mid-day trading on Monday after the company announced weaker than expected quarterly earnings. The stock traded as low as $3.82 and last traded at $3.80. 40,627,282 shares traded hands during trading, a decline of 13% from the average session volume of 46,852,266 shares. The stock had previously closed at $4.19.

The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The firm had revenue of $35.00 million for the quarter, compared to analyst estimates of $37.43 million. TeraWulf had a negative return on equity of 15.91% and a negative net margin of 41.88%. The firm’s revenue for the quarter was up 50.2% compared to the same quarter last year.

Analyst Upgrades and Downgrades

WULF has been the topic of several research analyst reports. Atb Cap Markets upgraded TeraWulf to a “strong-buy” rating in a report on Sunday, January 5th. B. Riley raised their price objective on shares of TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Northland Securities reaffirmed an “outperform” rating and issued a $10.00 target price on shares of TeraWulf in a research note on Tuesday, December 24th. Rosenblatt Securities reissued a “buy” rating and set a $10.00 price target on shares of TeraWulf in a research note on Monday. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 price objective on shares of TeraWulf in a research report on Monday, January 6th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $8.64.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Senator Investment Group LP acquired a new position in TeraWulf in the fourth quarter valued at about $24,371,000. Science & Technology Partners L.P. acquired a new stake in shares of TeraWulf in the 4th quarter valued at approximately $18,606,000. BIT Capital GmbH boosted its stake in TeraWulf by 169.4% during the 4th quarter. BIT Capital GmbH now owns 3,975,768 shares of the company’s stock worth $22,503,000 after acquiring an additional 2,499,865 shares during the last quarter. Van ECK Associates Corp grew its holdings in TeraWulf by 74.2% during the fourth quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company’s stock valued at $26,964,000 after purchasing an additional 2,028,383 shares during the period. Finally, Alyeska Investment Group L.P. bought a new stake in TeraWulf in the fourth quarter valued at approximately $10,970,000. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Stock Down 12.4 %

The company’s fifty day simple moving average is $5.22 and its two-hundred day simple moving average is $5.59. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -18.35 and a beta of 2.59.

TeraWulf Company Profile

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.