TeraWulf (NASDAQ:WULF) Shares Gap Up – Still a Buy?

TeraWulf Inc. (NASDAQ:WULF) shares gapped up prior to trading on Monday . The stock had previously closed at $14.67, but opened at $15.50. TeraWulf shares last traded at $16.15, with a volume of 10,127,335 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WULF. Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a research note on Monday, December 29th. Rosenblatt Securities upped their price objective on TeraWulf from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Morgan Stanley began coverage on TeraWulf in a research report on Monday, February 9th. They issued an “overweight” rating and a $37.00 price objective for the company. Cantor Fitzgerald raised their target price on TeraWulf from $18.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of TeraWulf from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 11th. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $20.62.

TeraWulf Stock Up 13.7%

The firm’s 50 day moving average is $14.72 and its two-hundred day moving average is $13.35. The stock has a market cap of $7.07 billion, a price-to-earnings ratio of -10.21 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.

Insider Activity at TeraWulf

In other news, Director Michael C. Bucella purchased 3,171 shares of the stock in a transaction dated Wednesday, March 4th. The stock was acquired at an average cost of $15.78 per share, for a total transaction of $50,038.38. Following the completion of the acquisition, the director directly owned 270,129 shares in the company, valued at $4,262,635.62. This represents a 1.19% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought 6,594 shares of company stock worth $100,059 in the last ninety days. Insiders own 19.90% of the company’s stock.

Institutional Trading of TeraWulf

Hedge funds have recently bought and sold shares of the company. Kraematon Investment Advisors Inc. raised its holdings in TeraWulf by 2.3% in the 4th quarter. Kraematon Investment Advisors Inc. now owns 42,452 shares of the company’s stock valued at $488,000 after acquiring an additional 952 shares during the last quarter. R Squared Ltd lifted its stake in shares of TeraWulf by 5.0% during the 4th quarter. R Squared Ltd now owns 22,207 shares of the company’s stock worth $255,000 after purchasing an additional 1,056 shares during the period. Perigon Wealth Management LLC boosted its holdings in shares of TeraWulf by 12.4% during the third quarter. Perigon Wealth Management LLC now owns 11,308 shares of the company’s stock worth $129,000 after purchasing an additional 1,250 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of TeraWulf by 2.0% during the fourth quarter. Franklin Resources Inc. now owns 63,005 shares of the company’s stock worth $724,000 after purchasing an additional 1,259 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its position in shares of TeraWulf by 10.7% in the third quarter. Rafferty Asset Management LLC now owns 13,325 shares of the company’s stock valued at $152,000 after purchasing an additional 1,293 shares during the period. Institutional investors and hedge funds own 62.49% of the company’s stock.

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.