TeraWulf Inc. [WULF] Stock trading around $0.66 per share: What’s Next?

TeraWulf Inc. [NASDAQ: WULF] gained 8.82% on the last trading session, reaching $0.66 price per share at the time. The company report on March 1, 2023 that TeraWulf Announces Closing of $28 Million Underwritten Equity Offering and Over-Allotment Option.

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TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), which owns and operates vertically integrated, domestic bitcoin mining facilities powered by more than 91% zero-carbon energy, today announced that it has completed its previously announced underwritten public offering (the “Offering”) of 40,764,706 shares of its common stock, including 4,000,000 shares sold pursuant to the partial exercise of the underwriter’s option to purchase additional shares.

The shares were issued at a public offering price of $0.68 per share for total gross proceeds to the Company of $27,720,000, before deducting underwriter discounts and commissions and offering expenses. As previously disclosed, TeraWulf intends to use the net proceeds from the Offering for general corporate purposes, which may include working capital and/or capital expenditures.

TeraWulf Inc. represents 108.84 million in outstanding shares, while the company has a total market value of $118.51 million with the latest information. WULF stock price has been found in the range of $0.595 to $0.68.

If compared to the average trading volume of 1.72M shares, WULF reached a trading volume of 6169968 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about TeraWulf Inc. [WULF]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WULF shares is $2.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WULF stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

B. Riley Securities have made an estimate for TeraWulf Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 25, 2022.

The Average True Range (ATR) for TeraWulf Inc. is set at 0.09, with the Price to Sales ratio for WULF stock in the period of the last 12 months amounting to 21.68. The Price to Book ratio for the last quarter was 0.64, with the Price to Cash per share for the same quarter was set at 0.03.

Trading performance analysis for WULF stock

TeraWulf Inc. [WULF] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.93. With this latest performance, WULF shares dropped by -32.47% in over the last four-week period, additionally sinking by -54.17% over the last 6 months – not to mention a drop of -94.05% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WULF stock in for the last two-week period is set at 45.65, with the RSI for the last a single of trading hit 46.65, and the three-weeks RSI is set at 45.88 for TeraWulf Inc. [WULF]. The present Moving Average for the last 50 days of trading for this stock 0.7487, while it was recorded at 0.6440 for the last single week of trading, and 1.3174 for the last 200 days.

TeraWulf Inc. [WULF]: A deeper dive into fundamental analysis

Return on Equity for this stock declined to -88.68, with Return on Assets sitting at -42.71.

TeraWulf Inc.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.20.

An analysis of insider ownership at TeraWulf Inc. [WULF]

There are presently around $8 million, or 6.60% of WULF stock, in the hands of institutional investors. The top three institutional holders of WULF stocks are: VANGUARD GROUP INC with ownership of 2,590,777, which is approximately 14.908% of the company’s market cap and around 11.60% of the total institutional ownership; PALOMA PARTNERS MANAGEMENT CO, holding 2,053,946 shares of the stock with an approximate value of $1.36 million in WULF stocks shares; and BLACKROCK INC., currently with $1.15 million in WULF stock with ownership of nearly 12.214% of the company’s market capitalization.

Positions in TeraWulf Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 28 institutional holders increased their position in TeraWulf Inc. [NASDAQ:WULF] by around 4,018,311 shares. Additionally, 23 investors decreased positions by around 995,069 shares, while 19 investors held positions by with 7,268,962 shares. The mentioned changes placed institutional holdings at 12,282,342 shares, according to the latest SEC report filing. WULF stock had 7 new institutional investments in for a total of 2,263,507 shares, while 12 institutional investors sold positions of 920,620 shares during the same period.


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