TeraWulf (NASDAQ:WULF) Upgraded at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of TeraWulf (NASDAQ:WULF) from a moderate buy rating to a strong-buy rating in a research report released on Monday morning,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a research note on Monday, December 29th. Needham & Company LLC reiterated a “buy” rating and set a $21.00 price objective on shares of TeraWulf in a report on Tuesday, February 3rd. Morgan Stanley assumed coverage on TeraWulf in a research report on Monday, February 9th. They issued an “overweight” rating and a $37.00 target price on the stock. B. Riley Financial lifted their price target on TeraWulf from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Finally, Cantor Fitzgerald boosted their price target on TeraWulf from $18.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued 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.com, TeraWulf currently has an average rating of “Moderate Buy” and an average price target of $20.69.

TeraWulf Trading Up 4.3%

NASDAQ:WULF opened at $15.37 on Monday. The stock has a market cap of $6.52 billion, a PE ratio of -9.43 and a beta of 3.67. TeraWulf has a fifty-two week low of $2.06 and a fifty-two week high of $18.51. The company has a debt-to-equity ratio of 33.00, a current ratio of 2.00 and a quick ratio of 1.03. The stock’s 50-day moving average is $14.33 and its two-hundred day moving average is $13.05.

Insiders Place Their Bets

In other news, Director Michael C. Bucella bought 3,171 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was purchased at an average price of $15.78 per share, with a total value of $50,038.38. Following the transaction, the director directly owned 270,129 shares in the company, valued at approximately $4,262,635.62. The trade was a 1.19% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 19.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TeraWulf

Several large investors have recently made changes to their positions in WULF. Vanguard Group Inc. increased its position in shares of TeraWulf by 37.4% during the fourth 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 period. Bank of America Corp DE raised its stake in shares of TeraWulf by 22.2% in 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 buying an additional 2,617,617 shares in the last quarter. Morgan Stanley lifted its holdings in shares of TeraWulf by 8.1% during the 4th quarter. Morgan Stanley now owns 9,641,209 shares of the company’s stock worth $110,778,000 after acquiring an additional 724,286 shares during the period. Geode Capital Management LLC boosted its position in shares of 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 acquiring an additional 318,842 shares in the last quarter. Finally, State Street Corp increased its stake in TeraWulf by 4.2% in the fourth quarter. State Street Corp now owns 7,349,508 shares of the company’s stock valued at $84,446,000 after acquiring an additional 298,645 shares during the period. Institutional investors and hedge funds 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.