Insider Buying: TeraWulf (NASDAQ:WULF) Director Buys $49,964.20 in Stock

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

TeraWulf Stock Down 0.8%

TeraWulf stock opened at $15.50 on Thursday. The firm has a 50 day simple moving average of $21.14 and a 200 day simple moving average of $19.63. 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 Inc. has a 1-year low of $8.60 and a 1-year high of $29.84. The firm has a market capitalization of $7.73 billion, a price-to-earnings ratio of -3.55 and a beta of 3.76.

TeraWulf (NASDAQ:WULF) last posted its 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 return on equity of 458.62% and a negative net margin of 1,179.94%.The company had revenue of $44.77 million for the quarter, compared to analysts’ expectations of $46.00 million. During the same quarter in the prior year, the company earned ($0.05) EPS. The company’s revenue was down 6.0% on a year-over-year basis. On average, analysts predict that TeraWulf Inc. will post -0.94 earnings per share for the current year.

Institutional Investors Weigh In On TeraWulf

Several large investors have recently added to or reduced their stakes in WULF. GAMMA Investing LLC grew its position in TeraWulf by 25.2% during the second quarter. GAMMA Investing LLC now owns 3,387 shares of the company’s stock worth $84,000 after buying an additional 681 shares in the last quarter. 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 valued at $36,000 after acquiring an additional 747 shares during the last quarter. R Squared Ltd increased its position in shares of TeraWulf by 5.0% in the fourth quarter. R Squared Ltd now owns 22,207 shares of the company’s stock worth $255,000 after purchasing an additional 1,056 shares during the last quarter. Franklin Resources Inc. raised its stake in TeraWulf by 2.0% in the fourth quarter. Franklin Resources Inc. now owns 63,005 shares of the company’s stock valued at $724,000 after purchasing an additional 1,259 shares in the last quarter. Finally, IFP Advisors Inc lifted its position in TeraWulf by 14.5% during the fourth quarter. IFP Advisors Inc now owns 12,378 shares of the company’s stock valued at $142,000 after purchasing an additional 1,563 shares during the last quarter. Institutional investors own 62.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on WULF shares. Jefferies Financial Group assumed coverage on TeraWulf in a report on Thursday, May 14th. They set a “buy” rating and a $28.00 price objective on the stock. Chardan Capital reaffirmed a “buy” rating and set a $32.00 target price on shares of TeraWulf in a report on Wednesday, August 5th. Northland Securities set a $30.00 price target on TeraWulf in a research report on Monday, May 4th. Needham & Company LLC increased their price target on shares of TeraWulf from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $30.00 price objective on shares of TeraWulf in a research report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.21.

TeraWulf Company 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.