TeraWulf (NASDAQ:WULF) Director Michael Bucella Purchases 3,023 Shares

TeraWulf Inc. (NASDAQ:WULF) Director Michael Bucella purchased 3,023 shares of the business’s stock in a transaction on Friday, August 14th. The stock was purchased at an average cost of $16.54 per share, for a total transaction of $50,000.42. Following the acquisition, the director owned 341,844 shares in the company, valued at approximately $5,654,099.76. The trade was a 0.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

TeraWulf Price Performance

WULF stock opened at $17.60 on Tuesday. The firm’s 50-day moving average price is $21.49 and its two-hundred day moving average price is $19.62. TeraWulf Inc. has a 12-month low of $8.60 and a 12-month high of $29.84. The stock has a market capitalization of $8.78 billion, a price-to-earnings ratio of -4.03 and a beta of 3.76. 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 (NASDAQ:WULF) last posted its earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.70). The firm had revenue of $44.77 million for the quarter, compared to analysts’ expectations of $46.00 million. TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%.The business’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.05) earnings per share. As a group, equities analysts predict that TeraWulf Inc. will post -0.94 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Oppenheimer reiterated an “outperform” rating and issued a $35.00 price objective on shares of TeraWulf in a research report on Wednesday, May 27th. Jefferies Financial Group started coverage on TeraWulf in a research note on Thursday, May 14th. They issued a “buy” rating and a $28.00 price target for the company. Bank of America assumed coverage on shares of TeraWulf in a report on Monday, June 15th. They issued a “buy” rating and a $34.00 price target on the stock. Sanford C. Bernstein assumed coverage on shares of TeraWulf in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $46.00 price objective on the stock. Finally, Morgan Stanley decreased their price objective on shares of TeraWulf from $72.00 to $62.50 and set an “overweight” rating for the company in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $34.21.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in WULF. BlackRock Inc. purchased a new position in shares of TeraWulf in the 2nd quarter valued at approximately $577,805,000. Vanguard Group Inc. grew its stake in TeraWulf by 37.4% in the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock worth $386,558,000 after purchasing an additional 9,162,958 shares during the period. Voloridge Investment Management LLC bought a new position in TeraWulf in the third quarter worth $69,006,000. Bank of America Corp DE bought a new position in TeraWulf in the second quarter worth $140,057,000. Finally, Wellington Management Group LLP lifted its position in TeraWulf by 36,193.2% during the third quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock valued at $44,559,000 after buying an additional 3,891,127 shares during the period. Hedge funds and other 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.