TeraWulf (NASDAQ:WULF) Stock Price Up 6.9% - Here's What Happened

Key Points

• Shares jumped 6.9% to about $21.40 on Monday, with 21.7 million shares traded—roughly 32% below the stock's average session volume.
• Wall Street is largely bullish: analysts show 12 Buys, 1 Hold and 1 Sell, giving an average rating of "Moderate Buy" and an average price target of $25.31.
• Insider activity was mixed—a director purchased 1,665 shares at $15.04 while insiders sold a net 737,500 shares over the past three months—and institutional investors hold about 62.5% of the stock.

Shares of TeraWulf Inc. (NASDAQ:WULF - Get Free Report) shot up 6.9% during trading on Monday . The company traded as high as $21.24 and last traded at $21.3960. 21,677,237 shares were traded during mid-day trading, a decline of 32% from the average session volume of 31,695,721 shares. The stock had previously closed at $20.01.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Rosenblatt Securities restated a "buy" rating and set a $23.00 price target on shares of TeraWulf in a research note on Wednesday, April 15th. Arete Research started coverage on shares of TeraWulf in a report on Monday, March 23rd. They set a "buy" rating and a $30.00 price objective on the stock. Cantor Fitzgerald upped their target price on TeraWulf from $24.00 to $30.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. Keefe, Bruyette & Woods reduced their target price on TeraWulf from $24.00 to $23.00 and set an "outperform" rating for the company in a research note on Wednesday, March 11th. Finally, Roth Mkm reaffirmed a "buy" rating and set a $32.00 price target on shares of TeraWulf in a research report on Friday, April 17th. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $25.31.

TeraWulf Price Performance

The firm has a market capitalization of $9.33 billion, a PE ratio of -13.15 and a beta of 3.69. The firm's fifty day moving average price is $16.63 and its 200 day moving average price is $14.74. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 33.00.

Insiders Place Their Bets

In related news, Director Michael C. Bucella bought 1,665 shares of the company's stock in a transaction that occurred on Friday, March 20th. The shares were purchased at an average cost of $15.04 per share, with a total value of $25,041.60. Following the completion of the acquisition, the director directly owned 280,052 shares in the company, valued at approximately $4,211,982.08. The trade was a 0.60% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Patrick Fleury sold 26,414 shares of TeraWulf stock in a transaction that occurred on 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 three months, insiders have purchased 13,094 shares of company stock valued at $200,392 and have sold 737,500 shares valued at $11,897,750. 19.90% of the stock is owned by insiders.

Hedge Funds Weigh In On TeraWulf

Several institutional investors have recently made changes to their positions in the company. Thames Capital Management LLC grew its position in shares of TeraWulf by 27.7% during the 3rd quarter. Thames Capital Management LLC now owns 1,449,091 shares of the company's stock valued at $16,549,000 after acquiring an additional 314,402 shares during the period. First Dallas Securities Inc. raised its holdings in TeraWulf by 99.2% in the 3rd quarter. First Dallas Securities Inc. now owns 264,000 shares of the company's stock worth $3,015,000 after purchasing an additional 131,500 shares during the period. Quantbot Technologies LP purchased a new position in TeraWulf during the third quarter worth approximately $3,350,000. GSA Capital Partners LLP acquired a new stake in TeraWulf in the third quarter valued at approximately $885,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in TeraWulf in the third quarter valued at approximately $1,138,000. 62.49% of the stock is owned by hedge funds and other institutional investors.

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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