Michael Bucella Purchases 752 Shares of TeraWulf (NASDAQ:WULF) Stock

TeraWulf Inc. (NASDAQ:WULF) Director Michael Bucella bought 752 shares of the stock in a transaction dated Monday, March 9th. The shares were acquired at an average price of $13.31 per share, for a total transaction of $10,009.12. Following the completion of the transaction, the director owned 272,214 shares of the company’s stock, valued at approximately $3,623,168.34. The trade was a 0.28% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

TeraWulf Stock Performance

Shares of NASDAQ:WULF traded up $0.10 on Monday, reaching $13.85. The company’s stock had a trading volume of 27,890,177 shares, compared to its average volume of 31,671,986. TeraWulf Inc. has a 52-week low of $2.06 and a 52-week high of $18.51. The stock has a market capitalization of $5.87 billion, a P/E ratio of -8.50 and a beta of 3.66. The stock’s 50-day moving average is $14.43 and its two-hundred day moving average is $13.16. The company has a debt-to-equity ratio of 33.00, a current ratio of 2.00 and a quick ratio of 2.00.

Institutional Trading of TeraWulf

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in TeraWulf by 37.4% in the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock valued at $386,558,000 after purchasing an additional 9,162,958 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in TeraWulf in the 3rd quarter valued at $69,006,000. Wellington Management Group LLP lifted its stake in shares of 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 period. Marshall Wace LLP grew its position in shares of TeraWulf by 574.2% in the fourth quarter. Marshall Wace LLP now owns 3,186,200 shares of the company’s stock valued at $36,609,000 after purchasing an additional 2,713,587 shares during the period. Finally, Bank of America Corp DE increased its stake in 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 purchasing an additional 2,617,617 shares during the last quarter. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WULF. Citigroup reaffirmed a “market outperform” rating on shares of TeraWulf in a report on Tuesday, November 11th. Needham & Company LLC reiterated a “buy” rating and issued a $21.00 price objective on shares of TeraWulf in a research note 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, March 2nd. B. Riley Financial increased their target price on shares of TeraWulf from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, TeraWulf currently has a consensus rating of “Moderate Buy” and an average target price 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.