TeraWulf (NASDAQ:WULF) Shares Up 12% on Insider Buying Activity

TeraWulf Inc. (NASDAQ:WULF)’s share price traded up 12% during trading on Monday after an insider bought additional shares in the company. The stock traded as high as $17.08 and last traded at $16.9190. 11,242,505 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 30,819,563 shares. The stock had previously closed at $15.10.

Specifically, Director Michael C. Bucella purchased 1,665 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The shares were acquired at an average cost of $15.04 per share, with a total value of $25,041.60. Following the transaction, the director owned 280,052 shares in the company, valued at approximately $4,211,982.08. The trade was a 0.60% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael C. Bucella acquired 1,584 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was acquired at an average cost of $16.00 per share, with a total value of $25,344.00. Following the acquisition, the director owned 275,136 shares of the company’s stock, valued at $4,402,176. This trade represents a 0.58% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WULF. Needham & Company LLC restated a “buy” rating and issued a $21.00 price target on shares of TeraWulf in a research report on Tuesday, February 3rd. Arete Research started coverage on shares of TeraWulf in a research report on Monday. They set a “buy” rating and a $30.00 price objective for the company. Cantor Fitzgerald increased their price objective on shares of TeraWulf from $18.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Rosenblatt Securities reissued a “buy” rating and issued a $23.00 target price on shares of TeraWulf in a report on Thursday. Finally, Keefe, Bruyette & Woods lowered their target price on TeraWulf from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Wednesday, March 11th. Thirteen equities research 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. Based on data from MarketBeat.com, TeraWulf currently has an average rating of “Moderate Buy” and a consensus price target of $21.29.

TeraWulf Stock Performance

The firm has a market cap of $7.10 billion, a price-to-earnings ratio of -10.32 and a beta of 3.66. The stock’s fifty day moving average is $14.99 and its two-hundred day moving average is $13.57. The company has a debt-to-equity ratio of 33.00, a quick ratio of 2.00 and a current ratio of 2.00.

Institutional Investors Weigh In On TeraWulf

Several large investors have recently made changes to their positions in the company. Purpose Unlimited Inc. bought a new stake in TeraWulf during the 4th quarter valued at $1,129,000. Spear Advisors LLC acquired a new stake in TeraWulf in the fourth quarter worth about $6,625,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in TeraWulf in the fourth quarter worth about $62,000. Caitong International Asset Management Co. Ltd grew its position in TeraWulf by 421.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 81,632 shares of the company’s stock valued at $938,000 after buying an additional 65,986 shares in the last quarter. Finally, Hamilton Wealth LLC increased its stake in TeraWulf by 14.1% during the 4th quarter. Hamilton Wealth LLC now owns 15,750 shares of the company’s stock valued at $181,000 after buying an additional 1,950 shares during the period. Institutional investors and hedge funds own 62.49% of the company’s stock.

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.