Insider Buying: TeraWulf (NASDAQ:WULF) Director Acquires 3,023 Shares

TeraWulf Inc. (NASDAQ:WULF – Get Free Report) Director Michael Bucella purchased 3,023 shares of the stock in a transaction dated Friday, August 14th. The shares were acquired at an average cost of $16.54 per share, for a total transaction of $50,000.42. Following the completion of the acquisition, the director owned 341,844 shares of the company’s stock, valued at approximately $5,654,099.76. This represents a 0.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

TeraWulf Stock Performance

NASDAQ WULF traded up $0.22 during trading hours on Monday, hitting $17.60. The company’s stock had a trading volume of 23,811,734 shares, compared to its average volume of 31,699,486. TeraWulf Inc. has a 12 month low of $8.60 and a 12 month high of $29.84. The company’s 50 day simple moving average is $21.66 and its two-hundred day simple moving average is $19.60. The company has a market cap of $8.78 billion, a P/E ratio of -4.03 and a beta of 3.76. The company has a debt-to-equity ratio of 27.25, a current ratio of 0.75 and a quick ratio of 0.75.

Get TeraWulf alerts:

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

Hedge Funds Weigh In On TeraWulf

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of TeraWulf in the second quarter worth about $577,805,000. Vanguard Group Inc. grew its stake in shares of TeraWulf by 37.4% during the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock valued at $386,558,000 after acquiring an additional 9,162,958 shares during the period. Voloridge Investment Management LLC purchased a new stake in TeraWulf in the 3rd quarter worth approximately $69,006,000. Bank of America Corp DE bought a new stake in TeraWulf during the 2nd quarter worth approximately $140,057,000. Finally, Wellington Management Group LLP raised its stake in TeraWulf by 36,193.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock worth $44,559,000 after acquiring an additional 3,891,127 shares during the period. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WULF has been the topic of several research analyst reports. Chardan Capital reissued a “buy” rating and set a $32.00 price target on shares of TeraWulf in a report on Wednesday, August 5th. Northland Securities set a $30.00 price target on shares of TeraWulf in a research report on Monday, May 4th. Oppenheimer reiterated an “outperform” rating and issued a $35.00 price objective on shares of TeraWulf in a research note on Wednesday, May 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a report on Wednesday, June 24th. Finally, Sanford C. Bernstein initiated coverage on shares of TeraWulf in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $46.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.21.

Check Out Our Latest Report on TeraWulf

TeraWulf Company Profile

(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.

Featured Articles

• Five stocks we like better than TeraWulf
• Commodities Are Booming, But These 3 ETFs Tell Different Stories
• 3 Active ETFs Making Big Moves in August
• This ETF Is Outperforming by Avoiding the S&P 500’s Biggest Problem
• Birkenstock Beats the Skeptics—But Not on EPS

Receive News & Ratings for TeraWulf Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TeraWulf and related companies with MarketBeat.com's FREE daily email newsletter.