Fortress Investment Group LLC Purchases Shares of 150,000 TeraWulf Inc. $WULF

Fortress Investment Group LLC purchased a new position in shares of TeraWulf Inc. (NASDAQ:WULF) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 150,000 shares of the company’s stock, valued at approximately $1,713,000.

Several other institutional investors have also recently modified their holdings of WULF. Brevan Howard Capital Management LP purchased a new position in shares of TeraWulf during the 3rd quarter valued at about $270,000. Clearline Capital LP purchased a new stake in TeraWulf in the third quarter worth approximately $146,000. Azora Capital LP bought a new position in TeraWulf during the third quarter valued at approximately $11,890,000. Bridgefront Capital LLC bought a new position in TeraWulf during the third quarter valued at approximately $427,000. Finally, Boothbay Fund Management LLC raised its stake in shares of TeraWulf by 129.6% during the third quarter. Boothbay Fund Management LLC now owns 159,544 shares of the company’s stock worth $1,822,000 after acquiring an additional 90,044 shares in the last quarter. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Price Performance

Shares of TeraWulf stock opened at $14.67 on Monday. The company has a debt-to-equity ratio of 33.00, a quick ratio of 2.00 and a current ratio of 2.00. TeraWulf Inc. has a 52-week low of $2.06 and a 52-week high of $18.51. The company’s 50 day moving average price is $14.72 and its 200-day moving average price is $13.35. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of -9.00 and a beta of 3.66.

Analyst Ratings Changes

A number of brokerages have recently weighed in on WULF. Cantor Fitzgerald boosted their price objective on shares of TeraWulf from $18.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Morgan Stanley began coverage on shares of TeraWulf in a research report on Monday, February 9th. They issued an “overweight” rating and a $37.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a research note on Monday, December 29th. Keefe, Bruyette & Woods cut 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. Finally, Rosenblatt Securities raised their price objective on TeraWulf from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.62.

Insiders Place Their Bets

In other news, Director Michael C. Bucella purchased 3,171 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were acquired at an average price of $15.78 per share, with a total value of $50,038.38. Following the acquisition, the director directly owned 270,129 shares in the company, valued at approximately $4,262,635.62. The trade was a 1.19% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last three months, insiders have acquired 6,594 shares of company stock worth $100,059. Corporate insiders own 19.90% of the company’s stock.

TeraWulf 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.