Insider Buying: TeraWulf (NASDAQ:WULF) Director Purchases 2,860 Shares

Key Points

• Director Michael Bucella purchased 2,860 TeraWulf shares at an average price of $17.47, investing nearly $50,000 and increasing his ownership by 0.84% to 344,704 shares.
• TeraWulf shares rose 1.3% to $17.60, but remain below their 50-day and 200-day moving averages; the stock has traded between $8.60 and $29.84 over the past year.
• The company reported a significant quarterly loss of $1.94 per share versus the expected $0.24 loss, while revenue fell 6% year over year to $44.77 million. Analysts nevertheless maintain a “Moderate Buy” consensus with an average price target of $34.21.

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) Director Michael Bucella bought 2,860 shares of the company's stock in a transaction on Monday, August 17th. The stock was bought at an average price of $17.47 per share, with a total value of $49,964.20. Following the completion of the acquisition, the director owned 344,704 shares in the company, valued at $6,021,978.88. This represents a 0.84% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

TeraWulf Trading Up 1.3%

Shares of NASDAQ WULF traded up $0.22 during trading on Monday, hitting $17.60. 23,811,734 shares of the company were exchanged, compared to its average volume of 31,699,486. The company has a fifty day moving average price of $21.66 and a 200-day moving average price of $19.60. The company has a debt-to-equity ratio of 27.25, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market capitalization of $8.78 billion, a PE ratio of -4.03 and a beta of 3.76. TeraWulf Inc. has a 12-month low of $8.60 and a 12-month high of $29.84.

TeraWulf (NASDAQ:WULF - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($1.70). TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The firm had revenue of $44.77 million during the quarter, compared to analyst estimates of $46.00 million. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. The business's revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, equities research analysts expect that TeraWulf Inc. will post -0.94 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on WULF shares. Bank of America started coverage on TeraWulf in a report on Monday, June 15th. They issued a "buy" rating and a $34.00 price objective on the stock. Lucid Cap Mkts raised TeraWulf to a "strong-buy" rating in a research report on Wednesday, May 27th. Morgan Stanley reduced their price objective on shares of TeraWulf from $72.00 to $62.50 and set an "overweight" rating on the stock in a report on Thursday. Sanford C. Bernstein started coverage on shares of TeraWulf in a research report on Wednesday, June 3rd. They issued an "outperform" rating and a $46.00 target price on the stock. Finally, Needham & Company LLC increased their target price on shares of TeraWulf from $28.00 to $33.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $34.21.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of TeraWulf by 37.4% in the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company's stock valued at $386,558,000 after buying an additional 9,162,958 shares during the period. Engle Capital Management L.P. boosted its holdings in TeraWulf by 574.3% during 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 acquiring an additional 2,512,600 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in TeraWulf by 45.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 140,101 shares of the company's stock valued at $1,610,000 after acquiring an additional 43,574 shares during the period. Pictet Asset Management Holding SA grew its position in TeraWulf by 178.8% in the 4th 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 in the last quarter. Finally, Jennison Associates LLC acquired a new position in TeraWulf in the 1st quarter valued at about $53,418,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

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.

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