TLDR
- TeraWulf jumped 11.86% on Monday, closing at $16.41
- The company secured a $500M delayed-draw bridge credit agreement with Morgan Stanley
- Funds will go toward building a new data center in Hawesville, Kentucky
- The Hawesville site currently operates 480 MW of power with room to expand
- Institutional ownership sits at 62.49%, with a consensus analyst rating of Moderate Buy
TeraWulf (WULF) had a strong Monday, jumping 11.86% to close at $16.41. The catalyst was a new $500 million credit agreement with Morgan Stanley to fund a data center build-out in Hawesville, Kentucky.
The deal is structured as a delayed-draw bridge credit agreement. TeraWulf can draw on the funds as needed to construct and develop the new facility.
The credit terms give TeraWulf two repayment options. One is tied to SOFR plus a 2.75% margin. The other is a base rate option pegged to the highest of the federal funds rate plus 0.50%, Morgan Stanley’s prime rate, a one-month SOFR, or 1% plus a 1.75% margin.
The Hawesville site is no small deal. It’s a former industrial property with 250 buildable acres, high-voltage transmission lines, an on-site substation, and a direct link to the regional grid. Current power capacity stands at 480 MW, with phased expansion planned.
This financing follows an announcement last month that TeraWulf bought two land parcels — one in Kentucky and one in Maryland — as part of its broader data center push. The Kentucky parcel is the Hawesville site now getting the funding.
Institutional and Analyst Interest
The fundraising news isn’t the only thing drawing attention to WULF right now. Several institutions quietly built new positions in the stock during Q3 of last year.
Fortress Investment Group opened a new stake worth around $1.71 million. Azora Capital led the pack with a $11.89 million new position. Boothbay Fund Management raised its stake by 129.6%. Total institutional ownership now stands at 62.49%.
Corporate insiders own 19.90% of the stock. Director Michael Bucella added 3,171 shares on March 4th at $15.78 each, bringing his total holding to 270,129 shares.
Analyst Ratings
Analysts are mostly positive. Morgan Stanley started coverage in February with an Overweight rating and a $37 target — well above current levels. Cantor Fitzgerald raised its target from $18 to $24. Keefe, Bruyette & Woods trimmed its target slightly, from $24 to $23, but kept an Outperform rating.
Rosenblatt Securities bumped its target from $20 to $23 with a Buy rating. Across 14 analysts, the consensus sits at Moderate Buy, with an average target of $20.62. The breakdown is 12 Buy, 1 Hold, and 1 Sell.
WULF opened Monday at $14.67 before the day’s move lifted it higher. The stock’s 52-week range is $2.06 to $18.51, giving some context to how much ground it has covered. Its 50-day moving average is $14.72, and the 200-day sits at $13.35.
The company carries a market cap of around $6.22 billion and a beta of 3.66 — this is not a low-volatility name. The price-to-earnings ratio is negative at -9.00, reflecting the company’s current unprofitability.
The stock closed Monday’s session at $16.41 following the credit agreement announcement.
Considering a new stock? You may want to see what’s on our watchlist first.
Our team at Knockout Stocks follows top-performing analysts and market-moving trends to spot potential winners early. We’ve identified five stocks gaining quiet attention that could be worth watching now. Create your free account to unlock the full report and get ongoing stock insights.Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
