TeraWulf (NASDAQ:WULF) Shares Down 5.4% – Should You Sell?

TeraWulf Inc. (NASDAQ:WULF)’s share price traded down 5.4% on Tuesday . The stock traded as low as $15.69 and last traded at $15.5290. 10,934,599 shares were traded during mid-day trading, a decline of 65% from the average session volume of 31,065,943 shares. The stock had previously closed at $16.41.

Analyst Upgrades and Downgrades

WULF has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TeraWulf in a research note on Monday, December 29th. Keefe, Bruyette & Woods lowered their target price on TeraWulf from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Wednesday, March 11th. Cantor Fitzgerald increased their target price on TeraWulf from $18.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Morgan Stanley initiated coverage on TeraWulf in a research report on Monday, February 9th. They set an “overweight” rating and a $37.00 price target on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $21.00 price objective on shares of TeraWulf in a research report on Tuesday, February 3rd. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.62.

TeraWulf Stock Down 4.6%

The company has a market capitalization of $6.49 billion, a P/E ratio of -9.39 and a beta of 3.67. The company has a debt-to-equity ratio of 33.00, a current ratio of 2.00 and a quick ratio of 2.00. The company has a 50 day moving average of $14.89 and a 200-day moving average of $13.46.

Insiders Place Their Bets

In other TeraWulf news, Director Michael C. Bucella acquired 3,171 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were purchased at an average cost of $15.78 per share, for a total transaction of $50,038.38. Following the transaction, the director owned 270,129 shares in the company, valued at $4,262,635.62. This represents a 1.19% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders purchased 6,594 shares of company stock valued at $100,059. Company insiders own 19.90% of the company’s stock.

Institutional Trading of TeraWulf

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of TeraWulf by 37.4% in the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock worth $386,558,000 after purchasing an additional 9,162,958 shares during the period. Bank of America Corp DE raised its stake in TeraWulf by 22.2% in the second quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock worth $63,038,000 after buying an additional 2,617,617 shares in the last quarter. Morgan Stanley lifted its holdings in TeraWulf by 8.1% in the fourth quarter. Morgan Stanley now owns 9,641,209 shares of the company’s stock worth $110,778,000 after buying an additional 724,286 shares during the period. Geode Capital Management LLC boosted its position in TeraWulf by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company’s stock valued at $96,274,000 after acquiring an additional 318,842 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of TeraWulf by 4.2% during the 4th quarter. State Street Corp now owns 7,349,508 shares of the company’s stock worth $84,446,000 after acquiring an additional 298,645 shares during the period. Hedge funds and other institutional investors own 62.49% of the company’s stock.

About TeraWulf

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.