M&T Bank Corp Purchases 45,717 Shares of TeraWulf Inc. $WULF

M&T Bank Corp increased its position in TeraWulf Inc. (NASDAQ:WULF) by 187.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,132 shares of the company’s stock after purchasing an additional 45,717 shares during the period. M&T Bank Corp’s holdings in TeraWulf were worth $806,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WULF. Advisory Services Network LLC bought a new position in TeraWulf in the 3rd quarter worth about $29,000. Comerica Bank raised its position in TeraWulf by 3,748.5% in the 1st quarter. Comerica Bank now owns 12,700 shares of the company’s stock worth $35,000 after buying an additional 12,370 shares during the last quarter. GPS Wealth Strategies Group LLC raised its position in TeraWulf by 366.2% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 3,590 shares of the company’s stock worth $41,000 after buying an additional 2,820 shares during the last quarter. Rafferty Asset Management LLC purchased a new position in TeraWulf in the 2nd quarter worth about $53,000. Finally, Financial Consulate Inc. purchased a new position in TeraWulf in the 3rd quarter worth about $57,000. Institutional investors own 62.49% of the company’s stock.

TeraWulf Stock Down 1.9%

NASDAQ WULF opened at $21.31 on Friday. The company has a debt-to-equity ratio of 33.00, a quick ratio of 2.00 and a current ratio of 2.00. The company has a market capitalization of $9.28 billion, a P/E ratio of -13.07 and a beta of 3.84. TeraWulf Inc. has a one year low of $2.89 and a one year high of $22.63. The stock has a 50 day moving average price of $17.04 and a 200-day moving average price of $14.93.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WULF shares. Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a research report on Friday, March 27th. Oppenheimer upped their price target on shares of TeraWulf from $20.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Keefe, Bruyette & Woods reduced their price target on shares of TeraWulf from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Wednesday, March 11th. Morgan Stanley reaffirmed an “overweight” rating and set a $41.50 price target on shares of TeraWulf in a research report on Monday. Finally, Cantor Fitzgerald upped their price target on shares of TeraWulf from $24.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.31.

Insiders Place Their Bets

In other TeraWulf news, Director Michael C. Bucella bought 1,665 shares of TeraWulf stock in a transaction on Friday, March 20th. The shares were acquired at an average price of $15.04 per share, for a total transaction of $25,041.60. Following the completion of the purchase, the director directly owned 280,052 shares in the company, valued at approximately $4,211,982.08. This trade represents a 0.60% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Patrick Fleury sold 26,414 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $16.14, for a total value of $426,321.96. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have acquired 13,094 shares of company stock worth $200,392 and have sold 954,200 shares worth $16,390,854. Insiders own 19.90% 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.