TeraWulf (NASDAQ:WULF) Director Michael Bucella Acquires 6,085 Shares of Stock

TeraWulf Inc. (NASDAQ:WULF) Director Michael Bucella bought 6,085 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were bought at an average price of $14.79 per share, with a total value of $89,997.15. Following the transaction, the director directly owned 350,789 shares in the company, valued at $5,188,169.31. This trade represents a 1.77% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

TeraWulf Price Performance

Shares of NASDAQ:WULF traded up $0.90 on Wednesday, hitting $15.39. The stock had a trading volume of 32,099,526 shares, compared to its average volume of 27,752,598. The firm’s 50 day moving average price is $17.30 and its 200-day moving average price is $19.69. The company has a debt-to-equity ratio of 27.25, a quick ratio of 0.75 and a current ratio of 0.75. TeraWulf Inc. has a twelve month low of $10.43 and a twelve month high of $29.84. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of -3.52 and a beta of 3.70.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($1.70). TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The firm had revenue of $44.77 million for the quarter, compared to the consensus estimate of $46.00 million. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.05) earnings per share. On average, equities research analysts predict that TeraWulf Inc. will post -0.95 earnings per share for the current year.

Institutional Investors Weigh In On TeraWulf

Several hedge funds have recently bought and sold shares of the company. Engle Capital Management L.P. grew its holdings in shares of TeraWulf by 574.3% in the 1st quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company’s stock valued at $42,570,000 after buying an additional 2,512,600 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in TeraWulf during the 2nd quarter worth $3,534,000. Jennison Associates LLC bought a new position in TeraWulf during the first quarter worth about $53,418,000. Troluce Capital Advisors LLC acquired a new position in TeraWulf in the first quarter valued at about $33,189,000. Finally, GeoSphere Capital Management LLC acquired a new position in TeraWulf in the fourth quarter valued at about $2,872,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WULF. Sanford C. Bernstein assumed coverage on TeraWulf in a research note on Wednesday, June 3rd. They issued an “outperform” rating and a $46.00 price objective on the stock. Oppenheimer reissued an “outperform” rating and set a $35.00 price objective on shares of TeraWulf in a report on Wednesday, May 27th. Morgan Stanley dropped their target price on shares of TeraWulf from $72.00 to $62.50 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Freedom Capmkts upgraded shares of TeraWulf to a “strong-buy” rating in a research report on Tuesday, September 8th. Finally, Citigroup began coverage on TeraWulf in a report on Monday, June 29th. They issued a “buy” rating and a $36.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, TeraWulf currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.21.

About TeraWulf

TeraWulf Inc (NASDAQ: WULF) develops and operates digital-asset mining and high-performance computing infrastructure. The company has focused primarily on bitcoin mining while expanding its data-center platform to support artificial intelligence, cloud computing and other high-density computing applications.

TeraWulf emphasizes access to low-cost, predominantly zero-carbon energy and designs, builds and operates energy-intensive data-center facilities. Its operations have included the Lake Mariner facility in New York and the Nautilus Cryptomine facility in Pennsylvania, which was developed in collaboration with Cumulus Coin.