TeraWulf (NASDAQ:WULF) Director Michael Bucella Buys 1,338 Shares of Stock

TeraWulf Inc. (NASDAQ:WULF) Director Michael Bucella purchased 1,338 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were acquired at an average price of $14.91 per share, for a total transaction of $19,949.58. Following the completion of the acquisition, the director directly owned 273,552 shares in the company, valued at approximately $4,078,660.32. This represents a 0.49% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

TeraWulf Stock Performance

NASDAQ:WULF opened at $14.67 on Friday. 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 twelve month low of $2.06 and a twelve month high of $18.51. The company has a fifty day moving average of $14.72 and a 200-day moving average of $13.29. The firm has a market capitalization of $6.22 billion, a P/E ratio of -9.00 and a beta of 3.67.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WULF. Rosenblatt Securities increased their price objective on TeraWulf from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a research report on Monday, December 29th. Needham & Company LLC restated a “buy” rating and set a $21.00 price objective on shares of TeraWulf in a research note on Tuesday, February 3rd. Keefe, Bruyette & Woods cut their price objective on shares of TeraWulf from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Cantor Fitzgerald upped their target price on shares of TeraWulf from $18.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. 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. According to data from MarketBeat.com, TeraWulf currently has a consensus rating of “Moderate Buy” and an average price target of $20.62.

Institutional Investors Weigh In On TeraWulf

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in TeraWulf by 37.4% in the fourth 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 period. Voloridge Investment Management LLC bought a new position in shares of TeraWulf during the 3rd quarter valued at approximately $69,006,000. Wellington Management Group LLP increased 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 last quarter. Marshall Wace LLP increased its stake in shares of TeraWulf by 574.2% during the 4th quarter. Marshall Wace LLP now owns 3,186,200 shares of the company’s stock worth $36,609,000 after purchasing an additional 2,713,587 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of TeraWulf by 22.2% in the 2nd quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock worth $63,038,000 after purchasing an additional 2,617,617 shares during the period. 62.49% of the stock is currently owned by institutional investors.

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.