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

TeraWulf Inc. (NASDAQ:WULF) Director Michael Bucella bought 679 shares of TeraWulf stock in a transaction on Friday, March 6th. The shares were acquired at an average price of $14.80 per share, for a total transaction of $10,049.20. Following the completion of the acquisition, the director owned 271,462 shares of the company’s stock, valued at approximately $4,017,637.60. This represents a 0.25% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

TeraWulf Stock Up 3.6%

Shares of TeraWulf stock opened at $14.35 on Wednesday. TeraWulf Inc. has a 1 year low of $2.06 and a 1 year high of $18.51. The business has a 50-day moving average of $14.54 and a two-hundred day moving average of $13.23. The company has a market capitalization of $6.09 billion, a P/E ratio of -8.80 and a beta of 3.67. The company has a debt-to-equity ratio of 33.00, a current ratio of 2.00 and a quick ratio of 2.00.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Cantor Fitzgerald increased their target price on TeraWulf from $18.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Citigroup reaffirmed a “market outperform” rating on shares of TeraWulf in a research note on Tuesday, November 11th. Needham & Company LLC reiterated a “buy” rating and issued a $21.00 price target on shares of TeraWulf in a report on Tuesday, February 3rd. Keefe, Bruyette & Woods raised shares of TeraWulf from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, March 2nd. Finally, Morgan Stanley initiated coverage on shares of TeraWulf in a report on Monday, February 9th. They set an “overweight” rating and a $37.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $20.69.

Hedge Funds Weigh In On TeraWulf

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in TeraWulf by 37.4% during the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock worth $386,558,000 after acquiring an additional 9,162,958 shares in the last quarter. Voloridge Investment Management LLC bought a new position in shares of TeraWulf in the 3rd quarter valued at about $69,006,000. Wellington Management Group LLP increased its stake in shares of 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 purchasing an additional 3,891,127 shares during the last quarter. Marshall Wace LLP increased its stake in shares of TeraWulf by 574.2% during the 4th quarter. Marshall Wace LLP now owns 3,186,200 shares of the company’s stock worth $36,609,000 after purchasing an additional 2,713,587 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of TeraWulf by 22.2% in the 2nd quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock valued at $63,038,000 after purchasing an additional 2,617,617 shares during the period. 62.49% of the stock is owned by institutional investors.

About TeraWulf

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.