Insider Buying: TeraWulf Inc. (NASDAQ:WULF) Director Purchases 4,796 Shares of Stock

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) Director Michael C. Bucella bought 4,796 shares of the business's stock in a transaction dated Monday, January 27th. The shares were acquired at an average cost of $4.17 per share, for a total transaction of $19,999.32. Following the purchase, the director now owns 205,632 shares of the company's stock, valued at approximately $857,485.44. The trade was a 2.39 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

TeraWulf Stock Up 3.4 %

TeraWulf stock traded up $0.17 during mid-day trading on Tuesday, reaching $5.18. 32,562,275 shares of the company were exchanged, compared to its average volume of 47,483,164. The business has a fifty day moving average of $6.32 and a 200 day moving average of $5.54. TeraWulf Inc. has a 12-month low of $1.55 and a 12-month high of $9.30.

Analyst Upgrades and Downgrades

WULF has been the subject of a number of recent analyst reports. Stifel Canada lowered shares of TeraWulf from a "strong-buy" rating to a "moderate buy" rating in a research note on Tuesday, October 29th. Atb Cap Markets raised shares of TeraWulf to a "strong-buy" rating in a research report on Sunday, January 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $11.00 target price on shares of TeraWulf in a research report on Monday, January 6th. Keefe, Bruyette & Woods assumed coverage on TeraWulf in a report on Wednesday, January 8th. They issued a "market perform" rating for the company. Finally, Northland Securities restated an "outperform" rating and set a $10.00 price objective on shares of TeraWulf in a report on Tuesday, December 24th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, TeraWulf currently has a consensus rating of "Buy" and a consensus target price of $8.64.

Institutional Investors Weigh In On TeraWulf

A number of hedge funds have recently made changes to their positions in WULF. Bank of New York Mellon Corp raised its holdings in TeraWulf by 8.2% in the fourth quarter. Bank of New York Mellon Corp now owns 742,656 shares of the company's stock worth $4,203,000 after purchasing an additional 56,312 shares in the last quarter. Matauro LLC bought a new position in shares of TeraWulf during the 4th quarter worth approximately $192,000. Ieq Capital LLC purchased a new stake in TeraWulf during the fourth quarter valued at approximately $285,000. Truist Financial Corp boosted its stake in TeraWulf by 5.0% in the fourth quarter. Truist Financial Corp now owns 52,500 shares of the company's stock valued at $297,000 after acquiring an additional 2,500 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its holdings in TeraWulf by 11.1% in the fourth quarter. JFS Wealth Advisors LLC now owns 50,000 shares of the company's stock worth $283,000 after purchasing an additional 5,000 shares during the last quarter. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

About TeraWulf

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. The company develops, owns, and operates bitcoin mining facilities in New York and Pennsylvania. It is also involved in the provision of miner hosting services to third-party entities. The company was founded in 2021 and is headquartered in Easton, Maryland.