TeraWulf (NASDAQ:WULF) Trading Down 9.3% on Insider Selling

Shares of TeraWulf Inc. (NASDAQ:WULF) fell 9.3% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $15.29 and last traded at $15.2950. 18,934,369 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 31,134,410 shares. The stock had previously closed at $16.86.

Specifically, CEO Paul B. Prager sold 137,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $16.10, for a total transaction of $2,213,750.00. Following the sale, the chief executive officer directly owned 354,200 shares in the company, valued at approximately $5,702,620. This trade represents a 27.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Analyst Ratings Changes

Several analysts recently issued reports on WULF shares. Needham & Company LLC restated a “buy” rating and issued a $21.00 price target on shares of TeraWulf in a research note on Tuesday, February 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a report on Monday, December 29th. Morgan Stanley assumed coverage on shares of TeraWulf in a report on Monday, February 9th. They set an “overweight” rating and a $37.00 target price on the stock. Arete Research began coverage on shares of TeraWulf in a research report on Monday. They issued a “buy” rating and a $30.00 price target for the company. Finally, Cantor Fitzgerald increased their price target on TeraWulf from $18.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $21.29.

TeraWulf Stock Down 9.5%

The firm has a 50 day simple moving average of $15.13 and a two-hundred day simple moving average of $13.69. The stock has a market capitalization of $6.47 billion, a P/E ratio of -9.38 and a beta of 3.67. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 33.00.

Institutional Trading of TeraWulf

Several large investors have recently bought and sold shares of WULF. Vanguard Group Inc. raised 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 in the last quarter. Bank of America Corp DE lifted its holdings 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 worth $63,038,000 after buying an additional 2,617,617 shares in the last quarter. Morgan Stanley raised its stake in shares of TeraWulf by 8.1% during the 4th quarter. Morgan Stanley now owns 9,641,209 shares of the company’s stock worth $110,778,000 after buying an additional 724,286 shares during the period. Geode Capital Management LLC lifted its stake in TeraWulf by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company’s stock worth $96,274,000 after purchasing an additional 318,842 shares during the last quarter. Finally, State Street Corp raised its holdings in TeraWulf by 4.2% in the fourth quarter. State Street Corp now owns 7,349,508 shares of the company’s stock valued at $84,446,000 after buying an additional 298,645 shares during the period. 62.49% of the stock is 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.