Bridgefront Capital LLC Takes $427,000 Position in TeraWulf Inc. $WULF

Bridgefront Capital LLC purchased a new stake in TeraWulf Inc. (NASDAQ:WULF) during the third quarter, according to its most recent filing with the SEC. The firm purchased 37,373 shares of the company’s stock, valued at approximately $427,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Thames Capital Management LLC acquired a new stake in TeraWulf in the second quarter worth $4,970,000. Two Seas Capital LP boosted its position in shares of TeraWulf by 966.9% during the second quarter. Two Seas Capital LP now owns 2,287,100 shares of the company’s stock worth $10,017,000 after purchasing an additional 2,072,729 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of TeraWulf by 27.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,507,973 shares of the company’s stock valued at $17,221,000 after buying an additional 325,148 shares during the period. Voya Investment Management LLC increased its position in shares of TeraWulf by 420.6% in the 3rd quarter. Voya Investment Management LLC now owns 375,754 shares of the company’s stock valued at $4,291,000 after buying an additional 303,583 shares in the last quarter. Finally, First Dallas Securities Inc. increased its position in shares of TeraWulf by 99.2% in the 3rd quarter. First Dallas Securities Inc. now owns 264,000 shares of the company’s stock valued at $3,015,000 after buying an additional 131,500 shares in the last quarter. Institutional investors own 62.49% of the company’s stock.

TeraWulf Trading Up 11.9%

WULF opened at $16.41 on Tuesday. The stock has a market capitalization of $6.96 billion, a P/E ratio of -10.07 and a beta of 3.66. TeraWulf Inc. has a 12 month low of $2.06 and a 12 month high of $18.51. The firm’s fifty day simple moving average is $14.78 and its 200 day simple moving average is $13.40. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 33.00.

Analysts Set New Price Targets

Several analysts recently commented on the company. Cantor Fitzgerald raised their price objective on TeraWulf from $18.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Morgan Stanley started coverage on TeraWulf in a research note on Monday, February 9th. They issued an “overweight” rating and a $37.00 target price for the company. Rosenblatt Securities increased their price target on TeraWulf from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Keefe, Bruyette & Woods dropped their price target on TeraWulf from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 11th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $21.00 price objective on shares of TeraWulf in a report on Tuesday, February 3rd. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, TeraWulf currently has a consensus rating of “Moderate Buy” and an average price target of $20.62.

Insider Transactions at TeraWulf

In other news, Director Michael C. Bucella purchased 3,171 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were purchased at an average price of $15.78 per share, with a total value of $50,038.38. Following the purchase, the director directly owned 270,129 shares of the company’s stock, valued at $4,262,635.62. This trade represents a 1.19% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders bought 6,594 shares of company stock worth $100,059. 19.90% of the stock is currently owned by corporate insiders.

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.