Insider Buying: TeraWulf (NASDAQ:WULF) Director Purchases 6,085 Shares

Key Points

• Director Michael Bucella bought 6,085 TeraWulf shares at an average price of $14.79, investing approximately $90,000 and increasing his stake by 1.77% to 350,789 shares.
• TeraWulf shares rose 6.2% to $15.39, but the company’s latest quarterly results showed a substantial EPS loss of $1.94, revenue of $44.77 million, and a 6% year-over-year revenue decline.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $34.21 price target; institutional investors own 62.49% of the stock.

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) Director Michael Bucella acquired 6,085 shares of the stock in a transaction on Tuesday, September 15th. The shares were purchased at an average price of $14.79 per share, for a total transaction of $89,997.15. Following the completion of the transaction, the director owned 350,789 shares in the company, valued at approximately $5,188,169.31. This represents a 1.77% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

TeraWulf Stock Up 6.2%

Shares of WULF stock traded up $0.90 on Wednesday, reaching $15.39. 32,099,526 shares of the company's stock traded hands, compared to its average volume of 27,752,598. The company has a market capitalization of $7.68 billion, a P/E ratio of -3.52 and a beta of 3.70. TeraWulf Inc. has a 12-month low of $10.43 and a 12-month high of $29.84. 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 business's 50 day moving average price is $17.30 and its two-hundred day moving average price is $19.69.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $44.77 million during the quarter, compared to analysts' expectations of $46.00 million. During the same period in the prior year, the company posted ($0.05) earnings per share. The firm's revenue was down 6.0% on a year-over-year basis. On average, equities analysts forecast that TeraWulf Inc. will post -0.95 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Lucid Cap Mkts raised shares of TeraWulf to a "strong-buy" rating in a research report on Wednesday, May 27th. Zacks Research raised shares of TeraWulf from a "strong sell" rating to a "hold" rating in a research note on Friday, August 7th. Chardan Capital restated a "buy" rating and set a $32.00 price target on shares of TeraWulf in a report on Wednesday, August 5th. Bank of America initiated coverage on shares of TeraWulf in a research note on Monday, June 15th. They issued a "buy" rating and a $34.00 price target on the stock. Finally, Oppenheimer reissued an "outperform" rating and set a $35.00 price objective on shares of TeraWulf in a research report on Wednesday, May 27th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, TeraWulf currently has an average rating of "Moderate Buy" and a consensus target price of $34.21.

Institutional Investors Weigh In On TeraWulf

A number of large investors have recently bought and sold shares of the business. Engle Capital Management L.P. raised its stake in shares of TeraWulf by 574.3% in 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 buying an additional 2,512,600 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of TeraWulf during the 2nd quarter valued at about $3,534,000. Jennison Associates LLC acquired a new stake in shares of TeraWulf during the 1st quarter valued at about $53,418,000. Troluce Capital Advisors LLC bought a new stake in TeraWulf in the first quarter valued at about $33,189,000. Finally, GeoSphere Capital Management LLC acquired a new position in TeraWulf in the fourth quarter worth about $2,872,000. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Company Profile

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.

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