TeraWulf (NASDAQ:WULF) Director Buys 3,023 Shares of Stock

Key Points

• Director Michael Bucella bought 3,023 TeraWulf shares at an average price of $16.54, investing approximately $50,000 and increasing his direct holdings to 341,844 shares.
• TeraWulf shares rose 1.3% to $17.60, but the company reported a significant quarterly EPS miss of $(1.94) versus the $(0.24) consensus estimate. Revenue fell 6% year over year to $44.77 million.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $34.21, while institutional investors own 62.49% of the company.

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) Director Michael Bucella purchased 3,023 shares of the firm's stock in a transaction on Friday, August 14th. The shares were acquired at an average cost of $16.54 per share, for a total transaction of $50,000.42. Following the completion of the purchase, the director directly owned 341,844 shares of the company's stock, valued at approximately $5,654,099.76. This represents a 0.89% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

TeraWulf Trading Up 1.3%

Shares of TeraWulf stock traded up $0.22 during trading on Monday, reaching $17.60. The company's stock had a trading volume of 23,811,734 shares, compared to its average volume of 31,699,486. 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 52-week low of $8.60 and a 52-week high of $29.84. The firm's 50-day moving average is $21.66 and its two-hundred day moving average is $19.60. The company has a market cap of $8.78 billion, a price-to-earnings ratio of -4.03 and a beta of 3.76.

TeraWulf (NASDAQ:WULF - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($1.94) 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 business had revenue of $44.77 million during the quarter, compared to analysts' expectations of $46.00 million. During the same quarter in the previous year, the business earned ($0.05) EPS. TeraWulf's revenue for the quarter was down 6.0% compared to the same quarter last year. On average, sell-side analysts anticipate that TeraWulf Inc. will post -0.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WULF has been the topic of several recent research reports. Weiss Ratings restated a "sell (d-)" rating on shares of TeraWulf in a research report on Wednesday, June 24th. Needham & Company LLC raised their price target on shares of TeraWulf from $28.00 to $33.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Citigroup initiated coverage on shares of TeraWulf in a research report on Monday, June 29th. They issued a "buy" rating and a $36.00 price objective on the stock. Sanford C. Bernstein began coverage on TeraWulf in a research report on Wednesday, June 3rd. They set an "outperform" rating and a $46.00 price target for the company. Finally, B. Riley Financial boosted their target price on TeraWulf from $32.00 to $40.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Two 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, TeraWulf has an average rating of "Moderate Buy" and a consensus price target of $34.21.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew 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 during the last quarter. Engle Capital Management L.P. lifted its stake in shares of TeraWulf by 574.3% in the first quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company's stock worth $42,570,000 after buying an additional 2,512,600 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of TeraWulf by 45.1% during the fourth quarter. Oppenheimer & Co. Inc. now owns 140,101 shares of the company's stock valued at $1,610,000 after buying an additional 43,574 shares during the last quarter. Pictet Asset Management Holding SA increased its position in shares of TeraWulf by 178.8% during the fourth 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 purchased a new position in TeraWulf in the 1st quarter worth approximately $53,418,000. Hedge funds and other institutional investors own 62.49% of the company's stock.

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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