Paul Prager Sells 137,500 Shares of TeraWulf (NASDAQ:WULF) Stock

TeraWulf Inc. (NASDAQ:WULF) CEO Paul Prager sold 137,500 shares of the stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $16.10, for a total value of $2,213,750.00. Following the completion of the sale, the chief executive officer owned 354,200 shares in the company, valued at $5,702,620. This trade represents a 27.96% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

TeraWulf Price Performance

Shares of NASDAQ WULF opened at $15.35 on Friday. The stock’s 50-day simple moving average is $15.16 and its two-hundred day simple moving average is $13.71. TeraWulf Inc. has a twelve month low of $2.06 and a twelve month high of $18.51. The firm has a market capitalization of $6.51 billion, a P/E ratio of -9.42 and a beta of 3.67. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 33.00.

Hedge Funds Weigh In On TeraWulf

A number of large investors have recently modified their holdings of WULF. Two Seas Capital LP boosted its stake in shares of TeraWulf by 966.9% in the 2nd quarter. Two Seas Capital LP now owns 2,287,100 shares of the company’s stock valued at $10,017,000 after purchasing an additional 2,072,729 shares in the last quarter. Exchange Traded Concepts LLC raised its position in TeraWulf by 27.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,507,973 shares of the company’s stock worth $17,221,000 after purchasing an additional 325,148 shares during the period. Voya Investment Management LLC raised its position in TeraWulf by 420.6% in the 3rd quarter. Voya Investment Management LLC now owns 375,754 shares of the company’s stock worth $4,291,000 after purchasing an additional 303,583 shares during the period. Thames Capital Management LLC lifted its stake in TeraWulf by 27.7% in the third quarter. Thames Capital Management LLC now owns 1,449,091 shares of the company’s stock worth $16,549,000 after purchasing an additional 314,402 shares during the last quarter. Finally, First Dallas Securities Inc. lifted its stake in TeraWulf by 99.2% in the third 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 last quarter. 62.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on WULF shares. Weiss Ratings restated a “sell (d-)” rating on shares of TeraWulf in a research report on Monday, December 29th. Cantor Fitzgerald boosted their price target on shares of TeraWulf from $18.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Rosenblatt Securities reissued a “buy” rating and issued a $23.00 price target on shares of TeraWulf in a report on Thursday, March 19th. Morgan Stanley assumed coverage on shares of TeraWulf in a research report on Monday, February 9th. They set an “overweight” rating and a $37.00 price objective on the stock. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of TeraWulf from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Wednesday, March 11th. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, TeraWulf presently has an average rating of “Moderate Buy” and a consensus price target of $21.29.

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.