TeraWulf (NASDAQ:WULF) Now Covered by Analysts at Arete Research

Arete Research began coverage on shares of TeraWulf (NASDAQ:WULF) in a report issued on Monday. The firm set a “buy” rating and a $30.00 price target on the stock. Arete Research’s price objective indicates a potential upside of 98.68% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the company. Keefe, Bruyette & Woods decreased their price objective on TeraWulf from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a research report on Monday, December 29th. Needham & Company LLC restated a “buy” rating and set a $21.00 price target on shares of TeraWulf in a report on Tuesday, February 3rd. Morgan Stanley started coverage on shares of TeraWulf in a research note on Monday, February 9th. They set an “overweight” rating and a $37.00 price objective for the company. Finally, Cantor Fitzgerald increased their target price 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. Thirteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $21.29.

TeraWulf Stock Performance

Shares of NASDAQ:WULF opened at $15.10 on Monday. The firm has a fifty day simple moving average of $14.99 and a two-hundred day simple moving average of $13.57. TeraWulf has a 52 week low of $2.06 and a 52 week high of $18.51. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 33.00. The stock has a market capitalization of $6.40 billion, a P/E ratio of -9.26 and a beta of 3.66.

Insiders Place Their Bets

In related news, Director Michael C. Bucella bought 1,665 shares of the stock in a transaction dated Friday, March 20th. The stock was purchased at an average cost of $15.04 per share, with a total value of $25,041.60. Following the completion of the purchase, the director owned 280,052 shares of the company’s stock, valued at $4,211,982.08. This trade represents a 0.60% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Patrick Fleury sold 26,414 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $16.14, for a total transaction of $426,321.96. The disclosure for this sale is available in the SEC filing. Insiders have bought 13,094 shares of company stock valued at $200,392 over the last three months. Insiders own 19.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WULF. Vanguard Group Inc. raised its position in TeraWulf by 37.4% during the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock valued at $386,558,000 after purchasing an additional 9,162,958 shares in the last quarter. Bank of America Corp DE grew its position in shares of TeraWulf by 22.2% during the 2nd 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 increased its stake in shares of TeraWulf by 8.1% during the fourth quarter. Morgan Stanley now owns 9,641,209 shares of the company’s stock valued at $110,778,000 after buying an additional 724,286 shares during the period. Geode Capital Management LLC grew its holdings in TeraWulf by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company’s stock worth $96,274,000 after acquiring an additional 318,842 shares in the last quarter. Finally, State Street Corp increased its position in TeraWulf by 4.2% during the 4th quarter. State Street Corp now owns 7,349,508 shares of the company’s stock valued at $84,446,000 after purchasing an additional 298,645 shares during the period. Institutional investors 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.