TeraWulf (NASDAQ:WULF) Director Michael Bucella Purchases 3,171 Shares

TeraWulf Inc. (NASDAQ:WULF) Director Michael Bucella acquired 3,171 shares of TeraWulf stock in a transaction dated Wednesday, March 4th. The shares were purchased at an average price of $15.78 per share, with a total value of $50,038.38. Following the acquisition, the director owned 270,129 shares of the company’s stock, valued at approximately $4,262,635.62. This trade represents a 1.19% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

TeraWulf Stock Performance

Shares of TeraWulf stock traded up $0.63 on Wednesday, hitting $15.37. The stock had a trading volume of 23,639,813 shares, compared to its average volume of 31,827,715. The stock has a market cap of $6.52 billion, a price-to-earnings ratio of -9.43 and a beta of 3.67. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 4.45. TeraWulf Inc. has a twelve month low of $2.06 and a twelve month high of $18.51. The business’s 50 day moving average is $14.26 and its two-hundred day moving average is $13.04.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in TeraWulf by 37.4% during the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock worth $386,558,000 after acquiring an additional 9,162,958 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in shares of TeraWulf in the third quarter worth $69,006,000. Wellington Management Group LLP raised its position in TeraWulf by 36,193.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock worth $44,559,000 after purchasing an additional 3,891,127 shares during the last quarter. Marshall Wace LLP grew its position in shares of TeraWulf by 574.2% in the 4th quarter. Marshall Wace LLP now owns 3,186,200 shares of the company’s stock valued at $36,609,000 after buying an additional 2,713,587 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of TeraWulf by 22.2% in the second quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock valued at $63,038,000 after buying an additional 2,617,617 shares during the period. 62.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WULF shares. Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a research report on Monday, December 29th. B. Riley Financial lifted their price objective on shares of TeraWulf from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Needham & Company LLC restated a “buy” rating and set a $21.00 target price on shares of TeraWulf in a research report on Tuesday, February 3rd. Keefe, Bruyette & Woods raised shares of TeraWulf from a “moderate buy” rating to a “strong-buy” rating in a report on Monday. Finally, Cantor Fitzgerald lifted their price target on shares of TeraWulf from $18.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, TeraWulf has a consensus rating of “Moderate Buy” and an average price target of $20.69.

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.