Michael Bucella Buys 3,171 Shares of TeraWulf (NASDAQ:WULF) Stock

TeraWulf Inc. (NASDAQ:WULF) Director Michael Bucella acquired 3,171 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was acquired at an average price of $15.78 per share, with a total value of $50,038.38. Following the completion of the transaction, the director directly owned 270,129 shares of the company’s stock, valued at approximately $4,262,635.62. This represents a 1.19% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

TeraWulf Price Performance

TeraWulf stock opened at $15.47 on Friday. The stock has a market capitalization of $6.56 billion, a P/E ratio of -9.49 and a beta of 3.67. The company’s fifty day moving average price is $14.39 and its 200 day moving average price is $13.07. The company has a debt-to-equity ratio of 33.00, a quick ratio of 1.03 and a current ratio of 2.00. TeraWulf Inc. has a 1 year low of $2.06 and a 1 year high of $18.51.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $21.00 price objective on shares of TeraWulf in a research note on Tuesday, February 3rd. Morgan Stanley initiated coverage on TeraWulf in a research note on Monday, February 9th. They issued an “overweight” rating and a $37.00 price target on the stock. Cantor Fitzgerald increased their price objective on TeraWulf from $18.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Weiss Ratings restated a “sell (d-)” rating on shares of TeraWulf in a report on Monday, December 29th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of TeraWulf in a report on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.69.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WULF. Vanguard Group Inc. increased its stake in TeraWulf by 37.4% during the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock worth $386,558,000 after acquiring an additional 9,162,958 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of TeraWulf during the 3rd quarter worth about $69,006,000. Wellington Management Group LLP raised its holdings in TeraWulf by 36,193.2% in the 3rd 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. Marshall Wace LLP lifted its position in TeraWulf by 574.2% in the fourth quarter. Marshall Wace LLP now owns 3,186,200 shares of the company’s stock valued at $36,609,000 after buying an additional 2,713,587 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in TeraWulf by 22.2% in the second quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock valued at $63,038,000 after buying an additional 2,617,617 shares during the last quarter. 62.49% of the stock is currently owned by institutional investors and hedge funds.

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.