TeraWulf Inc. (NASDAQ:WULF) Short Interest Update

TeraWulf Inc. (NASDAQ:WULFGet Rating) was the target of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totalling 1,500,000 shares, a decrease of 31.5% from the April 15th total of 2,190,000 shares. Currently, 4.5% of the shares of the company are sold short. Based on an average trading volume of 706,400 shares, the short-interest ratio is currently 2.1 days.

In other TeraWulf news, CEO Paul B. Prager purchased 150,000 shares of the firm’s stock in a transaction on Thursday, March 10th. The shares were purchased at an average price of $6.45 per share, for a total transaction of $967,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Revolve Capital Llc purchased 158,629 shares of the company’s stock in a transaction that occurred on Monday, April 11th. The stock was bought at an average cost of $7.88 per share, for a total transaction of $1,249,996.52. Following the purchase, the insider now directly owns 10,981,382 shares in the company, valued at approximately $86,533,290.16. The disclosure for this purchase can be found here. Insiders have bought 1,022,335 shares of company stock valued at $7,793,926 in the last 90 days. Insiders own 14.74% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp bought a new position in TeraWulf during the first quarter valued at approximately $86,000. Advisor Group Holdings Inc. grew its position in TeraWulf by 2,542.9% in the first quarter. Advisor Group Holdings Inc. now owns 3,700 shares of the company’s stock worth $31,000 after acquiring an additional 3,560 shares in the last quarter. P Schoenfeld Asset Management LP acquired a new position in shares of TeraWulf during the 1st quarter worth $252,000. Qube Research & Technologies Ltd bought a new position in shares of TeraWulf during the 1st quarter valued at $124,000. Finally, Van ECK Associates Corp acquired a new stake in shares of TeraWulf in the 1st quarter valued at $2,178,000. Hedge funds and other institutional investors own 2.80% of the company’s stock.

Separately, B. Riley initiated coverage on shares of TeraWulf in a research report on Friday, March 25th. They issued a “buy” rating and a $24.00 price target for the company.

WULF opened at $3.37 on Friday. The stock has a market cap of $352.54 million, a P/E ratio of -15.32 and a beta of 1.18. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.48 and a quick ratio of 1.48. TeraWulf has a fifty-two week low of $2.54 and a fifty-two week high of $43.98. The business’s 50-day moving average price is $6.19.

TeraWulf Company Profile (Get Rating)

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. It develops, owns, and operates bitcoin mining facility sites. The company operates two bitcoin mining facility sites located in New York and Pennsylvania. TeraWulf Inc is based in Easton, Maryland.

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