TeraWulf Inc. (NASDAQ:WULF) Treasurer Sells $227,487.00 in Stock

TeraWulf Inc. (NASDAQ:WULFGet Free Report) Treasurer Kenneth J. Deane sold 69,996 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $3.25, for a total value of $227,487.00. Following the transaction, the treasurer now owns 337,245 shares in the company, valued at approximately $1,096,046.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

TeraWulf Stock Up 10.5 %

WULF stock opened at $3.84 on Thursday. TeraWulf Inc. has a 52 week low of $0.89 and a 52 week high of $4.20. The business has a 50-day simple moving average of $2.34 and a 200 day simple moving average of $2.09.

TeraWulf (NASDAQ:WULFGet Free Report) last released its earnings results on Monday, May 13th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.07). TeraWulf had a negative net margin of 56.70% and a negative return on equity of 30.00%. The firm had revenue of $42.43 million during the quarter, compared to the consensus estimate of $41.86 million. As a group, research analysts forecast that TeraWulf Inc. will post -0.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on WULF. Compass Point decreased their price objective on TeraWulf from $4.50 to $3.50 and set a “buy” rating on the stock in a report on Thursday, March 21st. Cantor Fitzgerald started coverage on shares of TeraWulf in a research note on Tuesday. They issued an “overweight” rating and a $7.00 price target on the stock. B. Riley dropped their price objective on shares of TeraWulf from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Finally, Rosenblatt Securities assumed coverage on shares of TeraWulf in a research report on Tuesday, April 9th. They set a “buy” rating and a $4.20 target price on the stock. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $4.16.

Get Our Latest Research Report on TeraWulf

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in shares of TeraWulf by 95.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 416,006 shares of the company’s stock valued at $524,000 after purchasing an additional 203,584 shares in the last quarter. Arizona State Retirement System acquired a new stake in TeraWulf in the third quarter valued at about $38,000. Swiss National Bank bought a new position in TeraWulf in the third quarter valued at about $294,000. Van ECK Associates Corp raised its stake in TeraWulf by 3.0% during the third quarter. Van ECK Associates Corp now owns 2,434,668 shares of the company’s stock worth $3,068,000 after acquiring an additional 70,110 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new position in TeraWulf during the third quarter worth about $49,000. 62.49% of the stock is owned by institutional investors.

About TeraWulf

(Get Free Report)

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.

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