Michael Bucella Acquires 6,085 Shares of TeraWulf (NASDAQ:WULF) Stock

TeraWulf Inc. (NASDAQ:WULF) Director Michael Bucella purchased 6,085 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was bought at an average price of $14.79 per share, for a total transaction of $89,997.15. Following the purchase, the director owned 350,789 shares in the company, valued at $5,188,169.31. The trade was a 1.77% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

TeraWulf Stock Up 7.0%

TeraWulf stock opened at $16.47 on Friday. The stock has a market cap of $8.22 billion, a P/E ratio of -3.77 and a beta of 3.70. 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 Inc. has a twelve month low of $10.43 and a twelve month high of $29.84. The company’s 50-day moving average price is $17.17 and its two-hundred day moving average price is $19.69.

TeraWulf (NASDAQ:WULF) last issued 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 firm 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 firm earned ($0.05) EPS. The company’s revenue was down 6.0% on a year-over-year basis. As a group, analysts expect that TeraWulf Inc. will post -0.95 EPS for the current year.

Hedge Funds Weigh In On TeraWulf

A number of hedge funds have recently added to or reduced their stakes in the stock. BlueCrest Capital Management Ltd acquired a new position in TeraWulf in the 2nd quarter valued at $11,945,000. WINTON GROUP Ltd acquired a new stake in shares of TeraWulf during the 2nd quarter worth $5,550,000. Integrated Wealth Concepts LLC increased its position in shares of TeraWulf by 8.0% in the second quarter. Integrated Wealth Concepts LLC now owns 48,782 shares of the company’s stock worth $1,205,000 after purchasing an additional 3,617 shares during the period. IFP Advisors Inc raised its stake in TeraWulf by 75.9% in the second quarter. IFP Advisors Inc now owns 15,124 shares of the company’s stock valued at $374,000 after purchasing an additional 6,524 shares in the last quarter. Finally, Baird Financial Group Inc. acquired a new position in TeraWulf in the second quarter valued at about $540,000. Institutional investors own 62.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Freedom Capmkts raised TeraWulf to a “strong-buy” rating in a report on Tuesday, September 8th. Zacks Research raised shares of TeraWulf from a “strong sell” rating to a “hold” rating in a research report on Friday, August 7th. Lucid Cap Mkts upgraded shares of TeraWulf to a “strong-buy” rating in a research note on Wednesday, May 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $30.00 price target on shares of TeraWulf in a research report on Friday, August 21st. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of TeraWulf from $33.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.99.

About TeraWulf

TeraWulf Inc (NASDAQ: WULF) develops and operates digital-asset mining and high-performance computing infrastructure. The company has focused primarily on bitcoin mining while expanding its data-center platform to support artificial intelligence, cloud computing and other high-density computing applications.

TeraWulf emphasizes access to low-cost, predominantly zero-carbon energy and designs, builds and operates energy-intensive data-center facilities. Its operations have included the Lake Mariner facility in New York and the Nautilus Cryptomine facility in Pennsylvania, which was developed in collaboration with Cumulus Coin.