Insider Buying: TeraWulf (NASDAQ:WULF) Director Acquires $10,049.20 in Stock

TeraWulf Inc. (NASDAQ:WULF) Director Michael Bucella bought 679 shares of the firm’s stock in a transaction on Friday, March 6th. The shares were bought at an average cost of $14.80 per share, with a total value of $10,049.20. Following the transaction, the director directly owned 271,462 shares of the company’s stock, valued at approximately $4,017,637.60. This trade represents a 0.25% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

TeraWulf Trading Up 6.1%

Shares of WULF stock opened at $15.22 on Thursday. The business’s 50 day moving average is $14.62 and its two-hundred day moving average is $13.24. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 33.00. TeraWulf Inc. has a 12 month low of $2.06 and a 12 month high of $18.51. The company has a market cap of $6.45 billion, a PE ratio of -9.34 and a beta of 3.67.

Analysts Set New Price Targets

WULF has been the subject of a number of research analyst reports. Cantor Fitzgerald boosted their target price on shares of TeraWulf from $18.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Keefe, Bruyette & Woods decreased 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. Morgan Stanley started coverage on TeraWulf in a research report on Monday, February 9th. They issued an “overweight” rating and a $37.00 price target on the stock. Rosenblatt Securities upped their price target on TeraWulf from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Finally, B. Riley Financial increased their price objective on TeraWulf from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, TeraWulf currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.62.

Institutional Investors Weigh In On TeraWulf

Institutional investors have recently added to or reduced their stakes in the company. Comerica Bank grew its holdings in shares of TeraWulf by 3,748.5% during the 1st quarter. Comerica Bank now owns 12,700 shares of the company’s stock worth $35,000 after purchasing an additional 12,370 shares in the last quarter. Millennium Management LLC lifted its position in TeraWulf by 47.8% in the first quarter. Millennium Management LLC now owns 2,456,045 shares of the company’s stock worth $6,705,000 after purchasing an additional 793,832 shares during the period. Envestnet Asset Management Inc. boosted its stake in TeraWulf by 5.8% during the second quarter. Envestnet Asset Management Inc. now owns 41,375 shares of the company’s stock worth $181,000 after buying an additional 2,258 shares in the last quarter. First Dallas Securities Inc. boosted its stake in 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 buying an additional 74,000 shares in the last quarter. Finally, Hodges Capital Management Inc. increased its holdings in TeraWulf by 13.8% in the 2nd quarter. Hodges Capital Management Inc. now owns 4,062,480 shares of the company’s stock valued at $17,794,000 after buying an additional 493,001 shares during the period. 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.