TeraWulf (NASDAQ:WULF) Director Michael Bucella Buys 679 Shares of Stock

TeraWulf Inc. (NASDAQ:WULF) Director Michael Bucella bought 679 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was bought at an average cost of $14.80 per share, with a total value of $10,049.20. Following the transaction, the director directly owned 271,462 shares of the company’s stock, valued at approximately $4,017,637.60. This trade represents a 0.25% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

TeraWulf Stock Up 0.7%

Shares of WULF stock traded up $0.10 on Monday, hitting $13.85. The stock had a trading volume of 27,890,177 shares, compared to its average volume of 31,671,986. TeraWulf Inc. has a 52-week low of $2.06 and a 52-week high of $18.51. The firm has a market capitalization of $5.87 billion, a price-to-earnings ratio of -8.50 and a beta of 3.66. 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 stock’s 50 day moving average is $14.43 and its 200-day moving average is $13.16.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC raised 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 valued at $29,000 after purchasing an additional 4,800 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of TeraWulf in the third quarter valued at approximately $29,000. Advisors Asset Management Inc. raised its holdings in TeraWulf by 68.4% during the second quarter. Advisors Asset Management Inc. now owns 6,767 shares of the company’s stock worth $30,000 after purchasing an additional 2,748 shares in the last quarter. Vermillion Wealth Management Inc. lifted its position in TeraWulf by 1,191.0% in the fourth 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 during the period. Finally, Solstein Capital LLC acquired a new position in shares of TeraWulf during the 4th quarter valued at $34,000. Institutional investors own 62.49% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Keefe, Bruyette & Woods upgraded shares of TeraWulf from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, March 2nd. Cantor Fitzgerald lifted their target price on TeraWulf from $18.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $21.00 target price on shares of TeraWulf in a research note on Tuesday, February 3rd. Rosenblatt Securities boosted their price objective on shares of TeraWulf from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TeraWulf in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.69.

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.