TeraWulf Inc. $WULF Shares Purchased by M&T Bank Corp

M&T Bank Corp boosted its stake in shares of TeraWulf Inc. (NASDAQ:WULF) by 187.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,132 shares of the company’s stock after acquiring an additional 45,717 shares during the quarter. M&T Bank Corp’s holdings in TeraWulf were worth $806,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WULF. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of TeraWulf by 20.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 108,161 shares of the company’s stock valued at $1,243,000 after buying an additional 18,393 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of TeraWulf by 90.1% in the fourth quarter. Farther Finance Advisors LLC now owns 13,945 shares of the company’s stock worth $160,000 after acquiring an additional 6,609 shares during the last quarter. Sippican Capital Advisors boosted its stake in shares of TeraWulf by 112.9% in the fourth quarter. Sippican Capital Advisors now owns 71,650 shares of the company’s stock worth $823,000 after acquiring an additional 38,000 shares during the last quarter. Kraematon Investment Advisors Inc. boosted its stake in 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 last quarter. Finally, Blue Square Asset Management LLC acquired a new position in TeraWulf during the fourth quarter worth $184,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other TeraWulf news, Director Michael C. Bucella acquired 1,665 shares of the stock in a transaction dated Friday, March 20th. The stock was acquired at an average price of $15.04 per share, with a total value of $25,041.60. Following the completion of the transaction, the director directly owned 280,052 shares in the company, valued at approximately $4,211,982.08. This trade represents a 0.60% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Paul B. Prager sold 79,200 shares of TeraWulf stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $20.62, for a total value of $1,633,104.00. Following the completion of the transaction, the chief executive officer owned 884,320 shares in the company, valued at $18,234,678.40. The trade was a 8.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders acquired 13,094 shares of company stock valued at $200,392 and sold 954,200 shares valued at $16,390,854. Company insiders own 19.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on WULF shares. Arete Research started coverage on TeraWulf in a research note on Monday, March 23rd. They issued a “buy” rating and a $30.00 price target on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $23.00 price objective on shares of TeraWulf in a report on Wednesday, April 15th. Oppenheimer upped their price target on TeraWulf from $20.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Roth Mkm restated a “buy” rating and set a $32.00 price target on shares of TeraWulf in a report on Friday, April 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $21.00 price objective on shares of TeraWulf in a report on Wednesday, April 15th. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.31.

TeraWulf Stock Performance

Shares of WULF stock opened at $21.31 on Friday. The company has a debt-to-equity ratio of 33.00, a quick ratio of 2.00 and a current ratio of 2.00. The stock has a fifty day moving average price of $17.04 and a 200 day moving average price of $14.93. The stock has a market cap of $9.28 billion, a PE ratio of -13.07 and a beta of 3.84. TeraWulf Inc. has a 1 year low of $2.89 and a 1 year high of $22.63.

TeraWulf 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.