TeraWulf (NASDAQ:WULF) Hits New 52-Week High - Here's Why

Key Points

• TeraWulf shares hit a new 52-week high, trading as high as $20.98 (last $20.95) on heavy volume and up roughly 7.7%, giving the company a market cap of about $8.9 billion and a negative PE of -12.85.
• Analyst sentiment is largely bullish: multiple firms raised or initiated coverage (Cantor Fitzgerald lifted its target to $30 and Morgan Stanley started with an overweight and $37 target), and the MarketBeat consensus is a "Moderate Buy" with a $23.08 price target.
• Strong institutional accumulation but mixed insider activity: large investors like Vanguard, BofA and Morgan Stanley materially increased stakes (institutions own ~62.5%), while insiders have made both buys and sizable sales recently and collectively own about 19.9% of the stock.

Shares of TeraWulf Inc. (NASDAQ:WULF - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $20.98 and last traded at $20.95, with a volume of 34841844 shares traded. The stock had previously closed at $19.45.

Analyst Ratings Changes

Several research analysts recently weighed in on WULF shares. Cantor Fitzgerald boosted their target price on TeraWulf from $24.00 to $30.00 and gave the stock an "overweight" rating in a research note on Thursday, April 9th. Keefe, Bruyette & Woods dropped their target price on TeraWulf from $24.00 to $23.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 11th. Morgan Stanley started coverage on TeraWulf in a research note on Monday, February 9th. They set an "overweight" rating and a $37.00 target price on the stock. Rosenblatt Securities restated a "buy" rating and set a $23.00 target price on shares of TeraWulf in a research note on Thursday, March 19th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of TeraWulf in a research note on Friday, March 27th. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $23.08.

TeraWulf Trading Up 7.7%

The company has a debt-to-equity ratio of 33.00, a quick ratio of 2.00 and a current ratio of 2.00. The company has a 50 day simple moving average of $15.84 and a two-hundred day simple moving average of $14.27. The firm has a market cap of $8.88 billion, a PE ratio of -12.85 and a beta of 3.69.

Insider Buying and Selling at TeraWulf

In other news, Director Michael C. Bucella purchased 1,665 shares of the company's stock in a transaction on Friday, March 20th. The shares were acquired at an average price of $15.04 per share, for a total transaction of $25,041.60. Following the purchase, the director owned 280,052 shares in the company, valued at $4,211,982.08. This trade represents a 0.60% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Patrick Fleury sold 26,414 shares of the business's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $16.14, for a total value of $426,321.96. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have bought 13,094 shares of company stock worth $200,392 and have sold 737,500 shares worth $11,897,750. Company insiders own 19.90% of the company's stock.

Institutional Trading of TeraWulf

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake 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. Bank of America Corp DE grew its stake in TeraWulf by 22.2% during the 2nd quarter. Bank of America Corp DE now owns 14,392,299 shares of the company's stock valued at $63,038,000 after purchasing an additional 2,617,617 shares during the last quarter. Morgan Stanley grew its stake in TeraWulf by 8.1% during the 4th quarter. Morgan Stanley now owns 9,641,209 shares of the company's stock valued at $110,778,000 after purchasing an additional 724,286 shares during the last quarter. Geode Capital Management LLC grew its stake in TeraWulf by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company's stock valued at $96,274,000 after purchasing an additional 318,842 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of TeraWulf by 4.2% in the fourth quarter. State Street Corp now owns 7,349,508 shares of the company's stock worth $84,446,000 after buying an additional 298,645 shares during the last quarter. Hedge funds and other institutional investors own 62.49% of the company's stock.

TeraWulf Company Profile

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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