TeraWulf (NASDAQ:WULF) Now Covered by Analysts at Arete Research

Arete Research began coverage on shares of TeraWulf (NASDAQ:WULF) in a report released on Monday morning, MarketBeat.com reports. The firm issued a buy rating and a $30.00 target price on the stock.

Several other brokerages have also recently commented on WULF. Needham & Company LLC reiterated a “buy” rating and set a $21.00 price target on shares of TeraWulf in a research report on Tuesday, February 3rd. Rosenblatt Securities restated a “buy” rating and issued a $23.00 price objective on shares of TeraWulf in a report on Thursday, March 19th. Keefe, Bruyette & Woods dropped their target price 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. Cantor Fitzgerald raised 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. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TeraWulf in a research note on Monday, December 29th. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, TeraWulf has a consensus rating of “Moderate Buy” and a consensus target price of $21.29.

TeraWulf Stock Performance

Shares of WULF stock opened at $16.19 on Monday. TeraWulf has a 52-week low of $2.06 and a 52-week high of $18.51. The stock has a market cap of $6.87 billion, a PE ratio of -9.93 and a beta of 3.66. The business has a 50-day simple moving average of $15.03 and a 200-day simple moving average of $13.62. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 33.00.

Insider Activity

In other news, Director Michael C. Bucella bought 1,665 shares of the firm’s stock in a transaction on Friday, March 20th. The shares were bought at an average cost of $15.04 per share, for a total transaction of $25,041.60. Following the acquisition, the director directly owned 280,052 shares of the company’s stock, valued at $4,211,982.08. This trade represents a 0.60% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Patrick Fleury sold 26,414 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $16.14, for a total transaction of $426,321.96. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have purchased 13,094 shares of company stock valued at $200,392. 19.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On TeraWulf

Hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC boosted its stake in shares of TeraWulf by 265.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 6,609 shares of the company’s stock valued at $29,000 after purchasing an additional 4,800 shares during the period. Advisory Services Network LLC purchased a new stake in TeraWulf during the 3rd quarter worth approximately $29,000. Advisors Asset Management Inc. lifted its holdings in TeraWulf by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 6,767 shares of the company’s stock worth $30,000 after buying an additional 2,748 shares in the last quarter. Vermillion Wealth Management Inc. lifted its holdings in TeraWulf by 1,191.0% during the 4th quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock worth $30,000 after buying an additional 2,394 shares in the last quarter. Finally, Solstein Capital LLC acquired a new stake in TeraWulf during the 4th quarter worth approximately $34,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

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.