Insider Buying: TeraWulf (NASDAQ:WULF) Director Acquires $50,000.42 in Stock

TeraWulf Inc. (NASDAQ:WULF) Director Michael Bucella purchased 3,023 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was bought at an average price of $16.54 per share, with a total value of $50,000.42. Following the completion of the purchase, the director owned 341,844 shares of the company’s stock, valued at approximately $5,654,099.76. This represents a 0.89% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

TeraWulf Stock Down 0.8%

NASDAQ:WULF opened at $15.50 on Thursday. 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 Inc. has a twelve month low of $8.60 and a twelve month high of $29.84. The stock’s 50 day moving average price is $21.14 and its two-hundred day moving average price is $19.63. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 27.25.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $46.00 million. During the same quarter in the prior year, the company earned ($0.05) EPS. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. Equities research analysts expect that TeraWulf Inc. will post -0.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of WULF. Vanguard Group Inc. increased its stake in shares of 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 purchasing an additional 9,162,958 shares during the period. Engle Capital Management L.P. boosted its stake in TeraWulf by 574.3% in the 1st quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company’s stock valued at $42,570,000 after purchasing an additional 2,512,600 shares during the period. Oppenheimer & Co. Inc. grew its holdings in TeraWulf by 45.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 140,101 shares of the company’s stock valued at $1,610,000 after buying an additional 43,574 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in shares of TeraWulf by 178.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 151,005 shares of the company’s stock valued at $1,735,000 after acquiring an additional 96,843 shares during the period. Finally, Jennison Associates LLC acquired a new position in shares of TeraWulf in the first quarter valued at about $53,418,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on WULF shares. Bank of America started coverage on shares of TeraWulf in a research note on Monday, June 15th. They issued a “buy” rating and a $34.00 price target for the company. Morgan Stanley lowered their price objective on shares of TeraWulf from $72.00 to $62.50 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $30.00 target price on shares of TeraWulf in a report on Thursday, August 6th. Sanford C. Bernstein began coverage on shares of TeraWulf in a research note on Wednesday, June 3rd. They issued an “outperform” rating and a $46.00 target price for the company. Finally, Zacks Research upgraded TeraWulf from a “strong sell” rating to a “hold” rating in a report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, TeraWulf currently has a consensus rating of “Moderate Buy” and a consensus price target 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.