TeraWulf Inc. (NASDAQ:WULF – Get Rating) was the recipient of a large decrease in short interest in April. As of April 30th, there was short interest totalling 1,500,000 shares, a decrease of 31.5% from the April 15th total of 2,190,000 shares. Based on an average daily volume of 706,400 shares, the short-interest ratio is currently 2.1 days. Approximately 4.5% of the shares of the company are sold short.
Shares of NASDAQ WULF opened at $3.37 on Friday. The firm’s 50-day simple moving average is $6.19. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.48 and a quick ratio of 1.48. TeraWulf has a 12-month low of $2.54 and a 12-month high of $43.98. The stock has a market cap of $352.54 million, a PE ratio of -15.32 and a beta of 1.18.
In other news, CEO Paul B. Prager bought 150,000 shares of TeraWulf stock in a transaction that occurred on Thursday, March 10th. The stock was bought at an average cost of $6.45 per share, with a total value of $967,500.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Revolve Capital Llc bought 158,629 shares of the firm’s stock in a transaction on Monday, April 11th. The shares were purchased at an average price of $7.88 per share, for a total transaction of $1,249,996.52. Following the purchase, the insider now owns 10,981,382 shares in the company, valued at approximately $86,533,290.16. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 1,022,335 shares of company stock worth $7,793,926. 14.74% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of WULF. Bank of New York Mellon Corp purchased a new stake in shares of TeraWulf in the first quarter worth about $86,000. Advisor Group Holdings Inc. lifted its holdings in TeraWulf by 2,542.9% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,700 shares of the company’s stock worth $31,000 after buying an additional 3,560 shares in the last quarter. P Schoenfeld Asset Management LP acquired a new stake in shares of TeraWulf during the first quarter valued at about $252,000. Qube Research & Technologies Ltd purchased a new stake in shares of TeraWulf during the first quarter worth about $124,000. Finally, Van ECK Associates Corp bought a new position in TeraWulf during the 1st quarter worth approximately $2,178,000. Institutional investors own 2.80% of the company’s stock.
Separately, B. Riley assumed coverage on shares of TeraWulf in a report on Friday, March 25th. They set a “buy” rating and a $24.00 price objective for the company.
TeraWulf Company Profile (Get Rating)
TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. It develops, owns, and operates bitcoin mining facility sites. The company operates two bitcoin mining facility sites located in New York and Pennsylvania. TeraWulf Inc is based in Easton, Maryland.