TeraWulf (NASDAQ:WULF) Hits New 52-Week High – Time to Buy?

Shares of TeraWulf Inc. (NASDAQ:WULF) reached a new 52-week high during trading on Thursday . The stock traded as high as $19.20 and last traded at $19.0230, with a volume of 3977202 shares traded. The stock had previously closed at $18.05.

Analysts Set New Price Targets

Several research firms recently commented on WULF. Needham & Company LLC restated a “buy” rating and set a $21.00 price target on shares of TeraWulf in a report on Tuesday, February 3rd. Rosenblatt Securities restated a “buy” rating and set a $23.00 price target on shares of TeraWulf in a report on Thursday, March 19th. Keefe, Bruyette & Woods decreased their price target on shares of TeraWulf from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Wednesday, March 11th. Arete Research began coverage on shares of TeraWulf in a report on Monday, March 23rd. They set a “buy” rating and a $30.00 price target for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of TeraWulf in a report on Friday, March 27th. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, TeraWulf currently has an average rating of “Moderate Buy” and an average target price of $22.62.

TeraWulf Price Performance

The company has a debt-to-equity ratio of 33.00, a current ratio of 2.00 and a quick ratio of 2.00. The stock has a market capitalization of $7.89 billion, a price-to-earnings ratio of -11.46 and a beta of 3.69. The stock’s 50 day simple moving average is $15.40 and its 200-day simple moving average is $14.02.

Insider Buying and Selling at TeraWulf

In other TeraWulf news, Director Michael C. Bucella bought 1,665 shares of TeraWulf stock in a transaction on Friday, March 20th. The stock was purchased at an average cost of $15.04 per share, for a total transaction of $25,041.60. Following the completion of the purchase, the director directly owned 280,052 shares of the company’s stock, valued at $4,211,982.08. The trade was a 0.60% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Patrick Fleury sold 26,414 shares of TeraWulf stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $16.14, for a total transaction of $426,321.96. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders acquired 13,094 shares of company stock worth $200,392 and sold 737,500 shares worth $11,897,750. Corporate insiders own 19.90% of the company’s stock.

Hedge Funds Weigh In On TeraWulf

A number of institutional investors have recently modified their holdings of WULF. Comerica Bank raised its position in shares of TeraWulf by 3,748.5% in the first quarter. Comerica Bank now owns 12,700 shares of the company’s stock valued at $35,000 after purchasing an additional 12,370 shares during the period. Millennium Management LLC raised its position in shares of TeraWulf by 47.8% in the first quarter. Millennium Management LLC now owns 2,456,045 shares of the company’s stock valued at $6,705,000 after purchasing an additional 793,832 shares during the period. Envestnet Asset Management Inc. raised its position in shares of TeraWulf by 5.8% in the second quarter. Envestnet Asset Management Inc. now owns 41,375 shares of the company’s stock valued at $181,000 after purchasing an additional 2,258 shares during the period. Creative Planning raised its position in shares of TeraWulf by 232.2% in the second quarter. Creative Planning now owns 47,665 shares of the company’s stock valued at $209,000 after purchasing an additional 33,317 shares during the period. Finally, Legal & General Group Plc raised its position in shares of TeraWulf by 26.9% in the second quarter. Legal & General Group Plc now owns 300,799 shares of the company’s stock valued at $1,318,000 after purchasing an additional 63,748 shares during the period. Institutional investors own 62.49% of the company’s stock.

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.