TeraWulf (NASDAQ:WULF) Director Michael Bucella Acquires 2,860 Shares of Stock

TeraWulf Inc. (NASDAQ:WULF) Director Michael Bucella bought 2,860 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was bought at an average cost of $17.47 per share, with a total value of $49,964.20. Following the transaction, the director directly owned 344,704 shares in the company, valued at approximately $6,021,978.88. The trade was a 0.84% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

TeraWulf Stock Performance

Shares of WULF stock opened at $17.60 on Tuesday. The company has a debt-to-equity ratio of 27.25, a quick ratio of 0.75 and a current ratio of 0.75. TeraWulf Inc. has a one year low of $8.60 and a one year high of $29.84. The company’s 50-day simple moving average is $21.49 and its 200-day simple moving average is $19.62. The stock has a market capitalization of $8.78 billion, a price-to-earnings ratio of -4.03 and a beta of 3.76.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.70). The firm had revenue of $44.77 million during the quarter, compared to analyst estimates of $46.00 million. TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%.The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.05) earnings per share. Equities analysts anticipate that TeraWulf Inc. will post -0.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on WULF. Northland Securities set a $30.00 price target on TeraWulf in a report on Monday, May 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $37.00 price objective on shares of TeraWulf in a report on Wednesday, July 15th. Citigroup initiated coverage on shares of TeraWulf in a research note on Monday, June 29th. They set a “buy” rating and a $36.00 target price for the company. Rosenblatt Securities restated a “buy” rating and issued a $30.00 price target on shares of TeraWulf in a research report on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TeraWulf in a report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, TeraWulf presently has an average rating of “Moderate Buy” and a consensus target price of $34.21.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CoreCap Advisors LLC grew its stake in TeraWulf by 106.7% during the 2nd quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock worth $36,000 after buying an additional 747 shares during the last quarter. Advisory Services Network LLC bought a new stake in TeraWulf in the third quarter valued at $29,000. First United Bank & Trust acquired a new position in shares of TeraWulf during the first quarter valued at $37,000. Vermillion Wealth Management Inc. boosted its holdings in shares of TeraWulf by 1,191.0% during the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock valued at $30,000 after acquiring an additional 2,394 shares during the period. Finally, Solstein Capital LLC bought a new position in shares of TeraWulf during the second quarter worth about $74,000. 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.