Paul Prager Sells 137,500 Shares of TeraWulf (NASDAQ:WULF) Stock

TeraWulf Inc. (NASDAQ:WULF) CEO Paul Prager sold 137,500 shares of the company’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $16.10, for a total value of $2,213,750.00. Following the sale, the chief executive officer owned 354,200 shares of the company’s stock, valued at $5,702,620. This trade represents a 27.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

TeraWulf Stock Up 3.9%

WULF stock traded up $0.64 during trading on Wednesday, reaching $16.86. 30,399,993 shares of the company traded hands, compared to its average volume of 30,198,902. The business has a 50 day simple moving average of $15.08 and a 200 day simple moving average of $13.67. TeraWulf Inc. has a 12 month low of $2.06 and a 12 month high of $18.51. The company has a debt-to-equity ratio of 33.00, a current ratio of 2.00 and a quick ratio of 2.00.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Arete Research started coverage on shares of TeraWulf in a report on Monday. They issued a “buy” rating and a $30.00 price target on the stock. Cantor Fitzgerald increased their target price 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 reissued a “buy” rating and set a $21.00 target price on shares of TeraWulf in a research report on Tuesday, February 3rd. Morgan Stanley started coverage on shares of TeraWulf in a research note on Monday, February 9th. They issued an “overweight” rating and a $37.00 target price for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $23.00 price target on shares of TeraWulf in a report on Thursday, March 19th. Thirteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.29.

Institutional Investors Weigh In On TeraWulf

Several institutional investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC grew its stake in shares of TeraWulf by 265.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 6,609 shares of the company’s stock worth $29,000 after acquiring an additional 4,800 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of TeraWulf during the third quarter valued at about $29,000. Advisors Asset Management Inc. raised its position in shares of TeraWulf by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 6,767 shares of the company’s stock valued at $30,000 after purchasing an additional 2,748 shares during the last quarter. Vermillion Wealth Management Inc. boosted its stake in TeraWulf by 1,191.0% in the 4th quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock worth $30,000 after purchasing an additional 2,394 shares in the last quarter. Finally, Solstein Capital LLC acquired a new stake in TeraWulf in the 4th quarter worth approximately $34,000. 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.