Michael C. Bucella Purchases 4,796 Shares of TeraWulf Inc. (NASDAQ:WULF) Stock

TeraWulf Inc. (NASDAQ:WULF) Director Michael C. Bucella purchased 4,796 shares of the stock in a transaction on Monday, January 27th. The stock was acquired at an average cost of $4.17 per share, for a total transaction of $19,999.32. Following the completion of the acquisition, the director now owns 205,632 shares of the company’s stock, valued at $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 Down 4.8 %

NASDAQ:WULF traded down $0.24 during mid-day trading on Friday, reaching $4.77. 69,985,954 shares of the company were exchanged, compared to its average volume of 47,904,414. TeraWulf Inc. has a 12 month low of $1.55 and a 12 month high of $9.30. The company has a fifty day moving average of $6.41 and a 200 day moving average of $5.56.

Institutional Trading of TeraWulf

Hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in shares of TeraWulf by 258.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock worth $11,063,000 after acquiring an additional 1,704,013 shares in the last quarter. State Street Corp grew its stake in shares of TeraWulf by 3.8% during the 3rd quarter. State Street Corp now owns 6,283,196 shares of the company’s stock worth $29,405,000 after acquiring an additional 227,186 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of TeraWulf during the 3rd quarter worth approximately $340,000. GoalVest Advisory LLC bought a new position in shares of TeraWulf during the 4th quarter worth approximately $651,000. Finally, Barclays PLC grew its stake in shares of TeraWulf by 419.7% in the third quarter. Barclays PLC now owns 424,748 shares of the company’s stock valued at $1,989,000 after buying an additional 343,016 shares in the last quarter. 62.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Stifel Canada downgraded shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, October 29th. Rosenblatt Securities reiterated a “buy” rating and issued a $10.00 price target on shares of TeraWulf in a research report on Monday, January 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $9.50 price target on shares of TeraWulf in a research note on Monday, January 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 target price on shares of TeraWulf in a research note on Monday, January 6th. Finally, B. Riley raised their price objective on shares of TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $8.64.

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.