Insider Buying: TeraWulf (NASDAQ:WULF) Director Purchases 2,860 Shares

by · The Markets Daily

TeraWulf Inc. (NASDAQ:WULF – Get Free Report) Director Michael Bucella bought 2,860 shares of the company’s stock in a transaction on Monday, August 17th. The stock was bought at an average price of $17.47 per share, with a total value of $49,964.20. Following the completion of the acquisition, the director owned 344,704 shares in the company, valued at $6,021,978.88. This represents a 0.84% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

TeraWulf Trading Up 1.3%

Shares of NASDAQ WULF traded up $0.22 during trading on Monday, hitting $17.60. 23,811,734 shares of the company were exchanged, compared to its average volume of 31,699,486. The company has a fifty day moving average price of $21.66 and a 200-day moving average price of $19.60. The company has a debt-to-equity ratio of 27.25, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market capitalization of $8.78 billion, a PE ratio of -4.03 and a beta of 3.76. TeraWulf Inc. has a 12-month low of $8.60 and a 12-month high of $29.84.

TeraWulf (NASDAQ:WULF – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($1.70). TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The firm had revenue of $44.77 million during the quarter, compared to analyst estimates of $46.00 million. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, equities research analysts expect that TeraWulf Inc. will post -0.94 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on WULF shares. Bank of America started coverage on TeraWulf in a report on Monday, June 15th. They issued a “buy” rating and a $34.00 price objective on the stock. Lucid Cap Mkts raised TeraWulf to a “strong-buy” rating in a research report on Wednesday, May 27th. Morgan Stanley reduced their price objective on shares of TeraWulf from $72.00 to $62.50 and set an “overweight” rating on the stock in a report on Thursday. Sanford C. Bernstein started coverage on shares of TeraWulf in a research report on Wednesday, June 3rd. They issued an “outperform” rating and a $46.00 target price on the stock. Finally, Needham & Company LLC increased their target price on shares of TeraWulf from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $34.21.

Get Our Latest Analysis on TeraWulf

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of TeraWulf by 37.4% in the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock valued at $386,558,000 after buying an additional 9,162,958 shares during the period. Engle Capital Management L.P. boosted its holdings in TeraWulf by 574.3% during the 1st quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company’s stock valued at $42,570,000 after acquiring an additional 2,512,600 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in TeraWulf by 45.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 140,101 shares of the company’s stock valued at $1,610,000 after acquiring an additional 43,574 shares during the period. Pictet Asset Management Holding SA grew its position in TeraWulf by 178.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 151,005 shares of the company’s stock valued at $1,735,000 after acquiring an additional 96,843 shares in the last quarter. Finally, Jennison Associates LLC acquired a new position in TeraWulf in the 1st quarter valued at about $53,418,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

About TeraWulf

(Get Free Report)

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.

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