TeraWulf (NASDAQ:WULF) Shares Gap Down – Here’s Why

TeraWulf Inc. (NASDAQ:WULF)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $15.01, but opened at $14.44. TeraWulf shares last traded at $15.0350, with a volume of 3,617,676 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have commented on WULF. Weiss Ratings restated a “sell (d-)” rating on shares of TeraWulf in a research note on Monday, December 29th. Citigroup restated a “market outperform” rating on shares of TeraWulf in a research report on Tuesday, November 11th. Keefe, Bruyette & Woods raised shares of TeraWulf from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $9.50 to $24.00 in a research note on Wednesday, December 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $21.00 target price on shares of TeraWulf in a research note on Tuesday, February 3rd. Finally, Wall Street Zen downgraded shares of TeraWulf from a “hold” rating to a “sell” rating in a report on Sunday, October 26th. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, TeraWulf currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.31.

TeraWulf Stock Up 2.8%

The firm has a 50-day moving average of $13.67 and a two-hundred day moving average of $12.53. The stock has a market capitalization of $6.46 billion, a price-to-earnings ratio of -10.87 and a beta of 3.69. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 4.45.

Institutional Investors Weigh In On TeraWulf

A number of hedge funds and other institutional investors have recently bought and sold shares of WULF. First Dallas Securities Inc. boosted its holdings in shares of TeraWulf by 126.5% during the second quarter. First Dallas Securities Inc. now owns 132,500 shares of the company’s stock worth $580,000 after acquiring an additional 74,000 shares during the period. Thames Capital Management LLC acquired a new position in shares of TeraWulf during the 2nd quarter worth approximately $4,970,000. Two Seas Capital LP increased its holdings in shares of TeraWulf by 966.9% during the second quarter. Two Seas Capital LP now owns 2,287,100 shares of the company’s stock worth $10,017,000 after purchasing an additional 2,072,729 shares during the period. Exchange Traded Concepts LLC increased its holdings in shares of TeraWulf by 27.5% during the third quarter. Exchange Traded Concepts LLC now owns 1,507,973 shares of the company’s stock worth $17,221,000 after purchasing an additional 325,148 shares during the period. Finally, Voya Investment Management LLC raised its position in shares of TeraWulf by 420.6% in the third quarter. Voya Investment Management LLC now owns 375,754 shares of the company’s stock valued at $4,291,000 after buying an additional 303,583 shares in the last quarter. 62.49% of the stock is owned by institutional investors and hedge funds.

TeraWulf Company Profile

TeraWulf, Inc (NASDAQ: WULF) is a digital asset infrastructure company focused on the development and operation of zero-carbon bitcoin mining facilities. The company integrates sustainable power generation with high-density data center technologies to deliver environmentally responsible digital asset mining services. Its core business revolves around designing, building and operating large-scale mining projects powered exclusively by renewable or emissions-free energy sources.

One of TeraWulf’s flagship projects is “Project Nautilus,” located in Tompkins County, New York, which harnesses hydroelectric power sourced from the New York State Electric & Gas (NYSEG) grid.