TeraWulf (NASDAQ:WULF) CEO Paul Prager Sells 137,500 Shares of Stock

TeraWulf Inc. (NASDAQ:WULF) CEO Paul Prager sold 137,500 shares of the business’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $16.10, for a total value of $2,213,750.00. Following the transaction, the chief executive officer owned 354,200 shares of the company’s stock, valued at approximately $5,702,620. The trade was a 27.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

TeraWulf Stock Performance

WULF stock traded up $0.64 during midday trading on Wednesday, reaching $16.86. The company’s stock had a trading volume of 30,399,993 shares, compared to its average volume of 30,198,902. TeraWulf Inc. has a 1 year low of $2.06 and a 1 year high of $18.51. The stock has a fifty day simple moving average of $15.08 and a two-hundred day simple moving average of $13.67. The company has a debt-to-equity ratio of 33.00, a quick ratio of 2.00 and a current ratio of 2.00.

Hedge Funds Weigh In On TeraWulf

Institutional investors have recently made changes to their positions in the company. Two Seas Capital LP increased its holdings in TeraWulf by 966.9% during the second quarter. Two Seas Capital LP now owns 2,287,100 shares of the company’s stock valued at $10,017,000 after buying an additional 2,072,729 shares during the period. Exchange Traded Concepts LLC lifted its holdings in TeraWulf by 27.5% during the third quarter. Exchange Traded Concepts LLC now owns 1,507,973 shares of the company’s stock worth $17,221,000 after buying an additional 325,148 shares during the period. Voya Investment Management LLC lifted its holdings in TeraWulf by 420.6% during the third quarter. Voya Investment Management LLC now owns 375,754 shares of the company’s stock worth $4,291,000 after buying an additional 303,583 shares during the period. Thames Capital Management LLC boosted its position in TeraWulf by 27.7% during the 3rd quarter. Thames Capital Management LLC now owns 1,449,091 shares of the company’s stock valued at $16,549,000 after acquiring an additional 314,402 shares in the last quarter. Finally, First Dallas Securities Inc. increased its holdings in shares of TeraWulf by 99.2% in the 3rd quarter. First Dallas Securities Inc. now owns 264,000 shares of the company’s stock valued at $3,015,000 after acquiring an additional 131,500 shares during the period. Hedge funds and other institutional investors own 62.49% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on WULF. Keefe, Bruyette & Woods decreased 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, March 11th. Arete Research assumed coverage on shares of TeraWulf in a research note on Monday. They issued a “buy” rating and a $30.00 target price on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $23.00 target price on shares of TeraWulf in a research report on Thursday, March 19th. 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 note on Friday, February 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of TeraWulf in a report on Monday, December 29th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.29.

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.