TeraWulf (NASDAQ:WULF) Sets New 1-Year High – Here’s Why

TeraWulf Inc. (NASDAQ:WULF)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $19.20 and last traded at $19.0230, with a volume of 3977202 shares changing hands. The stock had previously closed at $18.05.

Analysts Set New Price Targets

Several equities analysts have commented on WULF shares. Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a research note on Friday, March 27th. Cantor Fitzgerald raised their target price on shares of TeraWulf from $18.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Arete Research started coverage on shares of TeraWulf in a research note on Monday, March 23rd. They set a “buy” rating and a $30.00 target price on the stock. Keefe, Bruyette & Woods lowered their target price on shares of TeraWulf from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 11th. Finally, Morgan Stanley started coverage on shares of TeraWulf in a research note on Monday, February 9th. They set an “overweight” rating and a $37.00 target price on the stock. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, TeraWulf has a consensus rating of “Moderate Buy” and a consensus price target of $22.62.

TeraWulf Price Performance

The company’s 50 day moving average price is $15.40 and its 200-day moving average price is $14.02. The company has a market cap of $7.89 billion, a price-to-earnings ratio of -11.46 and a beta of 3.69. The company has a debt-to-equity ratio of 33.00, a quick ratio of 2.00 and a current ratio of 2.00.

Insider Transactions at TeraWulf

In other news, CEO Paul B. Prager sold 137,500 shares of TeraWulf stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $16.10, for a total value of $2,213,750.00. Following the transaction, the chief executive officer owned 354,200 shares of the company’s stock, valued at $5,702,620. The trade was a 27.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael C. Bucella acquired 3,171 shares of the stock in a transaction dated Wednesday, March 4th. The stock was acquired at an average cost of $15.78 per share, for a total transaction of $50,038.38. Following the purchase, the director directly owned 270,129 shares in the company, valued at approximately $4,262,635.62. The trade was a 1.19% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have acquired 13,094 shares of company stock valued at $200,392 and have sold 737,500 shares valued at $11,897,750. Corporate insiders own 19.90% of the company’s stock.

Hedge Funds Weigh In On TeraWulf

Several hedge funds have recently made changes to their positions in the business. Exchange Traded Concepts LLC boosted its holdings in shares of TeraWulf by 27.5% in the third quarter. Exchange Traded Concepts LLC now owns 1,507,973 shares of the company’s stock worth $17,221,000 after buying an additional 325,148 shares during the period. Voya Investment Management LLC boosted its holdings 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 worth $4,291,000 after buying an additional 303,583 shares during the period. Thames Capital Management LLC boosted its holdings in shares of TeraWulf by 27.7% in the third quarter. Thames Capital Management LLC now owns 1,449,091 shares of the company’s stock worth $16,549,000 after buying an additional 314,402 shares during the period. First Dallas Securities Inc. boosted its holdings in shares of TeraWulf by 99.2% in the third quarter. First Dallas Securities Inc. now owns 264,000 shares of the company’s stock worth $3,015,000 after buying an additional 131,500 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of TeraWulf in the third quarter worth about $3,350,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

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.