TeraWulf (NASDAQ:WULF) Shares Gap Up Following Insider Buying Activity

TeraWulf Inc. (NASDAQ:WULF) gapped up before the market opened on Thursday following insider buying activity. The stock had previously closed at $15.39, but opened at $16.47. TeraWulf shares last traded at $15.8310, with a volume of 7,862,766 shares changing hands.

Specifically, Director Michael Bucella acquired 6,085 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were bought at an average cost of $14.79 per share, with a total value of $89,997.15. Following the completion of the acquisition, the director directly owned 350,789 shares in the company, valued at $5,188,169.31. This represents a 1.77% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Ratings Changes

WULF has been the subject of a number of analyst reports. Wells Fargo & Company began coverage on TeraWulf in a report on Thursday. They set an “overweight” rating and a $30.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a research report on Wednesday, June 24th. Keefe, Bruyette & Woods decreased their price objective on TeraWulf from $33.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, July 28th. William Blair initiated coverage on TeraWulf in a research report on Friday, August 28th. They set an “outperform” rating on the stock. Finally, Lucid Cap Mkts upgraded TeraWulf to a “strong-buy” rating in a research note on Wednesday, May 27th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.99.

TeraWulf Stock Performance

The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 27.25. The company has a market capitalization of $8.00 billion, a PE ratio of -3.67 and a beta of 3.70. The business has a 50 day simple moving average of $17.30 and a 200 day simple moving average of $19.69.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.70). TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%.The business had revenue of $44.77 million for the quarter, compared to analysts’ expectations of $46.00 million. During the same quarter in the previous year, the firm posted ($0.05) EPS. TeraWulf’s revenue was down 6.0% on a year-over-year basis. Equities research analysts predict that TeraWulf Inc. will post -0.95 EPS for the current fiscal year.

Institutional Trading of TeraWulf

Several large investors have recently bought and sold shares of the stock. BlueCrest Capital Management Ltd acquired a new position in TeraWulf during the 2nd quarter valued at approximately $11,945,000. WINTON GROUP Ltd acquired a new stake in shares of TeraWulf during the second quarter worth $5,550,000. Integrated Wealth Concepts LLC grew its holdings in shares of TeraWulf by 8.0% during the second quarter. Integrated Wealth Concepts LLC now owns 48,782 shares of the company’s stock valued at $1,205,000 after buying an additional 3,617 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of TeraWulf by 75.9% during the second quarter. IFP Advisors Inc now owns 15,124 shares of the company’s stock valued at $374,000 after buying an additional 6,524 shares during the last quarter. Finally, Baird Financial Group Inc. acquired a new position in shares of TeraWulf in the 2nd quarter valued at $540,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

TeraWulf Company Profile

TeraWulf Inc (NASDAQ: WULF) develops and operates digital-asset mining and high-performance computing infrastructure. The company has focused primarily on bitcoin mining while expanding its data-center platform to support artificial intelligence, cloud computing and other high-density computing applications.

TeraWulf emphasizes access to low-cost, predominantly zero-carbon energy and designs, builds and operates energy-intensive data-center facilities. Its operations have included the Lake Mariner facility in New York and the Nautilus Cryptomine facility in Pennsylvania, which was developed in collaboration with Cumulus Coin.