TeraWulf (NASDAQ:WULF) Director Buys $10,012.74 in Stock

TeraWulf Inc. (NASDAQ:WULF) Director Michael Bucella bought 654 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was purchased at an average price of $15.31 per share, for a total transaction of $10,012.74. Following the acquisition, the director owned 270,783 shares of the company’s stock, valued at $4,145,687.73. This trade represents a 0.24% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

TeraWulf Trading Up 0.7%

TeraWulf stock traded up $0.10 during trading hours on Monday, reaching $13.85. 27,890,177 shares of the company’s stock were exchanged, compared to its average volume of 31,671,986. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 33.00. The firm’s 50 day simple moving average is $14.43 and its 200 day simple moving average is $13.16. TeraWulf Inc. has a twelve month low of $2.06 and a twelve month high of $18.51. The firm has a market capitalization of $5.87 billion, a PE ratio of -8.50 and a beta of 3.66.

Wall Street Analysts Forecast Growth

WULF has been the subject of several recent analyst reports. Cantor Fitzgerald raised their target price on TeraWulf from $18.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. B. Riley Financial boosted their price target on TeraWulf from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Weiss Ratings restated a “sell (d-)” rating on shares of TeraWulf in a report on Monday, December 29th. Citigroup reaffirmed a “market outperform” rating on shares of TeraWulf in a research report on Tuesday, November 11th. Finally, Keefe, Bruyette & Woods upgraded shares of TeraWulf from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, March 2nd. One equities 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.69.

Institutional Investors Weigh In On TeraWulf

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of TeraWulf by 37.4% during the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock valued at $386,558,000 after acquiring an additional 9,162,958 shares in the last quarter. Voloridge Investment Management LLC bought a new position in shares of TeraWulf in the 3rd quarter worth $69,006,000. Wellington Management Group LLP lifted its holdings in shares of TeraWulf by 36,193.2% in 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 in the last quarter. Marshall Wace LLP grew its position in TeraWulf by 574.2% in the 4th 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 grew its position in TeraWulf by 22.2% in the 2nd 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 period. Institutional investors and hedge funds own 62.49% of the company’s stock.

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.