TeraWulf (NASDAQ:WULF) Shares Gap Up – Time to Buy?

TeraWulf Inc. (NASDAQ:WULF)’s share price gapped up prior to trading on Monday . The stock had previously closed at $14.67, but opened at $15.50. TeraWulf shares last traded at $16.15, with a volume of 10,127,335 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WULF. Keefe, Bruyette & Woods decreased their price target on TeraWulf from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 11th. Rosenblatt Securities upped their price objective on shares of TeraWulf from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $21.00 price objective on shares of TeraWulf in a report on Tuesday, February 3rd. Morgan Stanley began coverage on shares of TeraWulf in a research report on Monday, February 9th. They issued an “overweight” rating and a $37.00 target price on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of TeraWulf in a report on Monday, December 29th. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.62.

TeraWulf Stock Performance

The stock has a market cap of $7.07 billion, a PE ratio of -10.21 and a beta of 3.66. 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 stock has a 50-day simple moving average of $14.72 and a 200-day simple moving average of $13.35.

Insider Buying and Selling at TeraWulf

In other news, Director Michael C. Bucella bought 3,171 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was acquired at an average price of $15.78 per share, for a total transaction of $50,038.38. Following the acquisition, the director owned 270,129 shares of the company’s stock, valued at $4,262,635.62. This trade represents a 1.19% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders bought 6,594 shares of company stock valued at $100,059. Insiders own 19.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Spear Advisors LLC acquired a new position in TeraWulf during the fourth quarter valued at approximately $6,625,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of TeraWulf in the fourth quarter worth $62,000. Caitong International Asset Management Co. Ltd raised its stake in shares of 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 acquiring an additional 65,986 shares during the period. Hamilton Wealth LLC raised its stake in shares of TeraWulf by 14.1% in the 4th quarter. Hamilton Wealth LLC now owns 15,750 shares of the company’s stock valued at $181,000 after acquiring an additional 1,950 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of TeraWulf by 149.8% during the 4th quarter. Invesco Ltd. now owns 3,575,310 shares of the company’s stock valued at $41,080,000 after acquiring an additional 2,144,209 shares in the last quarter. Hedge funds and other institutional investors own 62.49% of the company’s stock.

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.