TeraWulf (NASDAQ:WULF) Shares Up 8% – What’s Next?

TeraWulf Inc. (NASDAQ:WULF) rose 8% during trading on Wednesday . The stock traded as high as $15.23 and last traded at $15.5020. Approximately 5,213,019 shares traded hands during trading, a decline of 83% from the average daily volume of 30,894,313 shares. The stock had previously closed at $14.35.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WULF. Keefe, Bruyette & Woods dropped their price objective on shares of TeraWulf from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Wednesday. Rosenblatt Securities boosted their target price on shares of TeraWulf from $20.00 to $23.00 and gave the company a “buy” rating in a report on Friday, February 27th. Weiss Ratings restated a “sell (d-)” rating on shares of TeraWulf in a report on Monday, December 29th. Cantor Fitzgerald lifted their price target on shares of TeraWulf from $18.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Finally, Morgan Stanley assumed coverage on TeraWulf in a report on Monday, February 9th. They issued an “overweight” rating and a $37.00 price objective on the stock. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.62.

TeraWulf Trading Up 7.7%

The company has a debt-to-equity ratio of 33.00, a current ratio of 2.00 and a quick ratio of 2.00. The company has a market cap of $6.70 billion, a PE ratio of -9.70 and a beta of 3.67. The company’s 50 day simple moving average is $14.68 and its two-hundred day simple moving average is $13.25.

Insider Transactions at TeraWulf

In other news, Director Michael C. Bucella purchased 3,171 shares of the stock in a transaction dated Wednesday, March 4th. The stock was acquired at an average cost of $15.78 per share, for a total transaction of $50,038.38. Following the completion of the transaction, the director directly owned 270,129 shares in the company, valued at approximately $4,262,635.62. This represents a 1.19% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders purchased a total of 5,256 shares of company stock valued at $80,109 over the last 90 days. 19.90% of the stock is owned by insiders.

Hedge Funds Weigh In On TeraWulf

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in TeraWulf by 37.4% in the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock valued at $386,558,000 after acquiring an additional 9,162,958 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of 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 purchasing an additional 2,617,617 shares during the period. Morgan Stanley grew its holdings in shares of TeraWulf by 8.1% in the fourth quarter. Morgan Stanley now owns 9,641,209 shares of the company’s stock valued at $110,778,000 after purchasing an additional 724,286 shares in the last quarter. Geode Capital Management LLC increased its stake in TeraWulf by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company’s stock worth $96,274,000 after buying an additional 318,842 shares during the period. Finally, State Street Corp lifted its holdings in TeraWulf by 4.2% during the 4th quarter. State Street Corp now owns 7,349,508 shares of the company’s stock worth $84,446,000 after buying an additional 298,645 shares in the last quarter. 62.49% of the stock is currently 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.