TeraWulf (NASDAQ:WULF) Hits New 52-Week High - Should You Buy?

Key Points

• TeraWulf (WULF) shares hit a new 52-week high of $22.07 (last at $21.81) on heavy volume, trading up about 8.3% and valuing the company at roughly $9.44 billion with a negative P/E.
• Analysts are mostly bullish — 12 Buy, 1 Hold and 1 Sell — giving a consensus rating of "Moderate Buy" and a consensus price target of $25.31, with Morgan Stanley's target as high as $41.50.
• Insider and institutional activity is mixed: director Michael Bucella bought shares while the CFO sold, insiders net-sold heavily over three months but still own 19.9%, and institutional investors hold about 62.49% of the stock (notably Millennium increased its stake).

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $22.07 and last traded at $21.8140, with a volume of 18441039 shares traded. The stock had previously closed at $20.02.

Analysts Set New Price Targets

Several brokerages recently commented on WULF. Morgan Stanley reiterated an "overweight" rating and set a $41.50 price target on shares of TeraWulf in a research report on Monday. Arete Research started coverage on shares of TeraWulf in a research note on Monday, March 23rd. They set a "buy" rating and a $30.00 price objective for the company. Roth Mkm reaffirmed a "buy" rating and set a $32.00 price objective on shares of TeraWulf in a research note on Friday, April 17th. Cantor Fitzgerald upped their price objective on shares of TeraWulf from $24.00 to $30.00 and gave the company an "overweight" rating in a research note on Thursday, April 9th. Finally, Weiss Ratings reaffirmed 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 given a Sell rating to the company. According to data from MarketBeat.com, TeraWulf has a consensus rating of "Moderate Buy" and a consensus price target of $25.31.

TeraWulf Trading Up 8.3%

The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 33.00. The company has a fifty day simple moving average of $16.92 and a 200-day simple moving average of $14.89. The company has a market capitalization of $9.44 billion, a PE ratio of -13.32 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 dated Friday, March 20th. The stock was acquired at an average price of $15.04 per share, with a total value of $25,041.60. Following the purchase, the director directly owned 280,052 shares in the company, valued at approximately $4,211,982.08. This represents a 0.60% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Patrick Fleury sold 26,414 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $16.14, for a total transaction of $426,321.96. The disclosure for this sale is available in the SEC filing. In the last three months, insiders purchased 13,094 shares of company stock worth $200,392 and sold 954,200 shares worth $16,390,854. 19.90% of the stock is owned by company insiders.

Institutional Trading of TeraWulf

Hedge funds have recently made changes to their positions in the company. Comerica Bank grew its holdings in shares of TeraWulf by 3,748.5% during the 1st quarter. Comerica Bank now owns 12,700 shares of the company's stock worth $35,000 after purchasing an additional 12,370 shares during the period. Millennium Management LLC grew its holdings in shares of TeraWulf by 47.8% during the 1st quarter. Millennium Management LLC now owns 2,456,045 shares of the company's stock worth $6,705,000 after purchasing an additional 793,832 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of TeraWulf by 5.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 41,375 shares of the company's stock worth $181,000 after purchasing an additional 2,258 shares during the period. Creative Planning grew its holdings in shares of TeraWulf by 232.2% during the 2nd quarter. Creative Planning now owns 47,665 shares of the company's stock worth $209,000 after purchasing an additional 33,317 shares during the period. Finally, Franklin Resources Inc. grew its holdings in shares of TeraWulf by 10.6% during the 2nd quarter. Franklin Resources Inc. now owns 56,684 shares of the company's stock worth $248,000 after purchasing an additional 5,432 shares during the period. 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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