Arete Research Initiates Coverage on TeraWulf (NASDAQ:WULF)

Equities research analysts at Arete Research started coverage on shares of TeraWulf (NASDAQ:WULF) in a report issued on Monday. The firm set a “buy” rating and a $30.00 price target on the stock. Arete Research’s price objective points to a potential upside of 98.68% from the stock’s current price.

Several other equities analysts have also issued reports on WULF. Weiss Ratings reiterated a “sell (d-)” rating on shares of TeraWulf in a research note on Monday, December 29th. Cantor Fitzgerald increased their price target on shares of TeraWulf from $18.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Needham & Company LLC restated a “buy” rating and issued a $21.00 price target on shares of TeraWulf in a report on Tuesday, February 3rd. Keefe, Bruyette & Woods lowered their target price on shares of TeraWulf from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Wednesday, March 11th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $23.00 price target on shares of TeraWulf in a report on Thursday. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.29.

TeraWulf Trading Down 4.1%

Shares of NASDAQ:WULF opened at $15.10 on Monday. The company has a market capitalization of $6.40 billion, a PE ratio of -9.26 and a beta of 3.66. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 33.00. TeraWulf has a 12-month low of $2.06 and a 12-month high of $18.51. The business’s fifty day simple moving average is $14.99 and its 200-day simple moving average is $13.57.

Insiders Place Their Bets

In other news, Director Michael C. Bucella purchased 3,171 shares of the stock in a transaction on Wednesday, March 4th. The stock was bought at an average price of $15.78 per share, with a total value of $50,038.38. Following the transaction, the director owned 270,129 shares in the company, valued at $4,262,635.62. The trade was a 1.19% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Patrick Fleury sold 573,586 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $16.14, for a total value of $9,257,678.04. Following the sale, the chief financial officer owned 3,205,000 shares in the company, valued at approximately $51,728,700. The trade was a 15.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders purchased a total of 13,094 shares of company stock valued at $200,392 in the last 90 days. 19.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TeraWulf

A number of institutional investors have recently bought and sold shares of the business. Comerica Bank boosted its holdings in shares of TeraWulf by 3,748.5% in the 1st quarter. Comerica Bank now owns 12,700 shares of the company’s stock valued at $35,000 after acquiring an additional 12,370 shares during the last quarter. Millennium Management LLC boosted its holdings in TeraWulf by 47.8% in the first quarter. Millennium Management LLC now owns 2,456,045 shares of the company’s stock valued at $6,705,000 after purchasing an additional 793,832 shares during the last quarter. Envestnet Asset Management Inc. grew its position in TeraWulf by 5.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 41,375 shares of the company’s stock worth $181,000 after purchasing an additional 2,258 shares during the period. Police & Firemen s Retirement System of New Jersey raised its stake in shares of TeraWulf by 5.1% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 59,677 shares of the company’s stock valued at $261,000 after buying an additional 2,905 shares during the last quarter. Finally, Creative Planning lifted its holdings in shares of TeraWulf by 232.2% in the 2nd quarter. Creative Planning now owns 47,665 shares of the company’s stock valued at $209,000 after buying an additional 33,317 shares during the period. 62.49% of the stock is owned by hedge funds and other institutional investors.

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.