Insider Buying: TeraWulf (NASDAQ:WULF) Director Acquires 2,860 Shares

TeraWulf Inc. (NASDAQ:WULF) Director Michael Bucella bought 2,860 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were acquired at an average cost of $17.47 per share, for a total transaction of $49,964.20. Following the completion of the purchase, the director owned 344,704 shares in the company, valued at $6,021,978.88. This trade represents a 0.84% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

TeraWulf Stock Up 1.3%

WULF stock traded up $0.22 during midday trading on Monday, hitting $17.60. The company’s stock had a trading volume of 23,811,734 shares, compared to its average volume of 31,699,486. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 27.25. TeraWulf Inc. has a 52-week low of $8.60 and a 52-week high of $29.84. The firm has a market capitalization of $8.78 billion, a P/E ratio of -4.03 and a beta of 3.76. The firm has a 50-day simple moving average of $21.66 and a 200-day simple moving average of $19.60.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.94) EPS for the quarter, missing the consensus estimate of ($0.24) by ($1.70). The business had revenue of $44.77 million during the quarter, compared to analyst estimates 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 was down 6.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.05) EPS. As a group, equities analysts forecast that TeraWulf Inc. will post -0.94 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on WULF shares. Keefe, Bruyette & Woods cut their price target on TeraWulf from $33.00 to $30.00 and set an “outperform” rating on the stock in a report on Tuesday, July 28th. Compass Point set a $40.00 price objective on TeraWulf in a research report on Monday, July 6th. Jefferies Financial Group initiated coverage on shares of TeraWulf in a research note on Thursday, May 14th. They set a “buy” rating and a $28.00 target price on the stock. Zacks Research upgraded shares of TeraWulf from a “strong sell” rating to a “hold” rating in a research note on Friday, August 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of TeraWulf in a report on Wednesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, TeraWulf currently has an average rating of “Moderate Buy” and a consensus target price of $34.21.

Institutional Trading of TeraWulf

Institutional investors have recently bought and sold shares of the business. CoreCap Advisors LLC boosted its position in shares of TeraWulf by 106.7% during the 2nd quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock worth $36,000 after acquiring an additional 747 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of TeraWulf during the 3rd quarter worth about $29,000. First United Bank & Trust acquired a new stake in shares of TeraWulf during the 1st quarter worth about $37,000. Vermillion Wealth Management Inc. lifted its stake in TeraWulf by 1,191.0% during the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock worth $30,000 after purchasing an additional 2,394 shares during the last quarter. Finally, Solstein Capital LLC purchased a new stake in TeraWulf during the second quarter worth approximately $74,000. 62.49% of the stock is owned by hedge funds and other 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.