TeraWulf (NASDAQ:WULF) Shares Gap Up Following Insider Buying Activity

Key Points

• TeraWulf shares opened sharply higher, rising from a prior close of $15.39 to $16.47 after director Michael Bucella bought 6,085 shares for approximately $90,000.
• Analyst sentiment is broadly positive, with a “Moderate Buy” consensus and an average price target of $33.99, although ratings range from “Strong Buy” to “Sell.”
• The company reported significant financial weakness in its latest quarter, including a $1.94 per-share loss versus a $0.24 expected loss, revenue down 6% year over year, and a negative net margin exceeding 1,179%.

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) shares gapped up prior to trading on Thursday following insider buying activity. The stock had previously closed at $15.39, but opened at $16.47. TeraWulf shares last traded at $15.8310, with a volume of 7,862,766 shares changing hands.

Specifically, Director Michael Bucella acquired 6,085 shares of the stock in a transaction dated Tuesday, September 15th. The stock was acquired at an average cost of $14.79 per share, with a total value of $89,997.15. Following the purchase, the director directly owned 350,789 shares of the company's stock, valued at approximately $5,188,169.31. This trade represents a 1.77% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Analysts Set New Price Targets

Several research firms have recently weighed in on WULF. Weiss Ratings reissued a "sell (d-)" rating on shares of TeraWulf in a research report on Wednesday, June 24th. Sanford C. Bernstein began coverage on TeraWulf in a research report on Wednesday, June 3rd. They issued an "outperform" rating and a $46.00 price target for the company. Freedom Capmkts raised shares of TeraWulf to a "strong-buy" rating in a research note on Tuesday, September 8th. HC Wainwright reiterated a "buy" rating on shares of TeraWulf in a research report on Friday, August 21st. Finally, William Blair assumed coverage on shares of TeraWulf in a research note on Friday, August 28th. They issued an "outperform" rating on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $33.99.

TeraWulf Stock Performance

The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 27.25. The business has a 50 day simple moving average of $17.30 and a two-hundred day simple moving average of $19.69. The firm has a market cap of $8.00 billion, a PE ratio of -3.67 and a beta of 3.70.

TeraWulf (NASDAQ:WULF - Get Free Report) last issued its earnings results 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). The company had revenue of $44.77 million for the quarter, compared to analysts' expectations of $46.00 million. TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The firm's revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.05) earnings per share. As a group, equities research analysts forecast that TeraWulf Inc. will post -0.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TeraWulf

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