Michael Bucella Acquires 1,338 Shares of TeraWulf (NASDAQ:WULF) Stock

TeraWulf Inc. (NASDAQ:WULF) Director Michael Bucella purchased 1,338 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was acquired at an average cost of $14.91 per share, for a total transaction of $19,949.58. Following the purchase, the director owned 273,552 shares in the company, valued at approximately $4,078,660.32. The trade was a 0.49% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

TeraWulf Price Performance

Shares of NASDAQ:WULF opened at $14.67 on Friday. The business has a 50-day moving average price of $14.72 and a 200 day moving average price of $13.32. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 33.00. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of -9.00 and a beta of 3.67. TeraWulf Inc. has a 12-month low of $2.06 and a 12-month high of $18.51.

Hedge Funds Weigh In On TeraWulf

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kraematon Investment Advisors Inc. increased its stake in shares of TeraWulf by 2.3% during the fourth quarter. Kraematon Investment Advisors Inc. now owns 42,452 shares of the company’s stock worth $488,000 after buying an additional 952 shares during the period. R Squared Ltd lifted its stake in TeraWulf by 5.0% in the fourth quarter. R Squared Ltd now owns 22,207 shares of the company’s stock worth $255,000 after acquiring an additional 1,056 shares during the last quarter. Perigon Wealth Management LLC lifted its stake in TeraWulf by 12.4% in the third quarter. Perigon Wealth Management LLC now owns 11,308 shares of the company’s stock worth $129,000 after acquiring an additional 1,250 shares during the last quarter. Franklin Resources Inc. grew its holdings in TeraWulf by 2.0% during the 4th quarter. Franklin Resources Inc. now owns 63,005 shares of the company’s stock worth $724,000 after acquiring an additional 1,259 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its holdings in TeraWulf by 10.7% during the 3rd quarter. Rafferty Asset Management LLC now owns 13,325 shares of the company’s stock worth $152,000 after acquiring an additional 1,293 shares in the last quarter. Hedge funds and other institutional investors own 62.49% of the company’s stock.

Wall Street Analyst Weigh In

WULF has been the subject of a number of recent analyst reports. Morgan Stanley initiated coverage on shares of TeraWulf in a research report on Monday, February 9th. They set an “overweight” rating and a $37.00 price target for the company. Rosenblatt Securities increased their price objective on shares of TeraWulf from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Keefe, Bruyette & Woods dropped their target price on shares of TeraWulf from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Wednesday. Cantor Fitzgerald boosted their target price on TeraWulf from $18.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Finally, Needham & Company LLC restated a “buy” rating and set a $21.00 price target on shares of TeraWulf in a research note on Tuesday, February 3rd. Twelve investment 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.62.

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.