Insider Buying: TeraWulf (NASDAQ:WULF) Director Buys $89,997.15 in Stock

TeraWulf Inc. (NASDAQ:WULFGet Free Report) Director Michael Bucella acquired 6,085 shares of the stock in a transaction dated Tuesday, September 15th. The stock was acquired at an average price of $14.79 per share, for a total transaction of $89,997.15. Following the completion of the transaction, the director directly owned 350,789 shares of the company’s stock, valued at approximately $5,188,169.31. This represents a 1.77% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

TeraWulf Stock Up 3.3%

Shares of WULF opened at $17.01 on Friday. The business’s 50 day moving average is $17.07 and its 200 day moving average is $19.67. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 27.25. TeraWulf Inc. has a 12-month low of $10.43 and a 12-month high of $29.84. The company has a market capitalization of $8.49 billion, a PE ratio of -3.89 and a beta of 3.70.

TeraWulf (NASDAQ:WULFGet Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($1.70). The business had revenue of $44.77 million during the quarter, compared to the consensus estimate of $46.00 million. TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%.The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.05) earnings per share. Research analysts expect that TeraWulf Inc. will post -0.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Compass Point set a $40.00 price target on shares of TeraWulf in a research note on Monday, July 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $30.00 target price on shares of TeraWulf in a research report on Friday, August 21st. HC Wainwright reissued a “buy” rating on shares of TeraWulf in a research note on Friday, August 21st. Cantor Fitzgerald restated an “overweight” rating and set a $37.00 price target on shares of TeraWulf in a report on Wednesday, July 15th. Finally, Citigroup assumed coverage on TeraWulf in a report on Monday, June 29th. They set a “buy” rating and a $36.00 price objective on the stock. Four research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, TeraWulf currently has a consensus rating of “Buy” and a consensus target price of $33.99.

Get Our Latest Stock Report on TeraWulf

Institutional Investors Weigh In On TeraWulf

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vermillion Wealth Management Inc. grew its stake in TeraWulf by 1,191.0% in the 4th quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock worth $30,000 after acquiring an additional 2,394 shares in the last quarter. Solstein Capital LLC bought a new stake in shares of TeraWulf during the fourth quarter valued at approximately $34,000. CoreCap Advisors LLC boosted its holdings in shares of TeraWulf by 106.7% in the second quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock valued at $36,000 after purchasing an additional 747 shares during the period. First United Bank & Trust bought a new position in TeraWulf in the first quarter worth approximately $37,000. Finally, Ameritas Advisory Services LLC bought a new position in TeraWulf in the second quarter worth approximately $41,000. Institutional investors own 62.49% of the company’s stock.

TeraWulf Company Profile

(Get Free Report)

TeraWulf Inc (NASDAQ: WULF) develops and operates digital-asset mining and high-performance computing infrastructure. The company has focused primarily on bitcoin mining while expanding its data-center platform to support artificial intelligence, cloud computing and other high-density computing applications.

TeraWulf emphasizes access to low-cost, predominantly zero-carbon energy and designs, builds and operates energy-intensive data-center facilities. Its operations have included the Lake Mariner facility in New York and the Nautilus Cryptomine facility in Pennsylvania, which was developed in collaboration with Cumulus Coin.

Recommended Stories

Insider Buying and Selling by Quarter for TeraWulf (NASDAQ:WULF)

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.