TeraWulf (NASDAQ:WULF) Shares Up 2.8%

TeraWulf Inc. (NASDAQ:WULF)’s stock price traded up 2.8% during trading on Wednesday . The stock traded as high as $1.96 and last traded at $1.93. 1,097,185 shares were traded during mid-day trading, a decline of 94% from the average session volume of 19,860,402 shares. The stock had previously closed at $1.88.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Rosenblatt Securities assumed coverage on shares of TeraWulf in a research report on Tuesday, April 9th. They issued a “buy” rating and a $4.20 price target for the company. B. Riley reduced their price target on shares of TeraWulf from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $4.00 price target on shares of TeraWulf in a research report on Thursday, March 28th. Finally, Compass Point reduced their price target on shares of TeraWulf from $4.50 to $3.50 and set a “buy” rating for the company in a research report on Thursday, March 21st. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, TeraWulf presently has a consensus rating of “Buy” and an average price target of $3.66.

TeraWulf Stock Performance

The company’s fifty day moving average is $2.17 and its 200-day moving average is $1.73.

Institutional Trading of TeraWulf

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in TeraWulf by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 9,958,205 shares of the company’s stock valued at $23,900,000 after purchasing an additional 81,033 shares during the period. BlackRock Inc. boosted its holdings in TeraWulf by 42.2% in the 2nd quarter. BlackRock Inc. now owns 5,123,121 shares of the company’s stock valued at $8,965,000 after purchasing an additional 1,519,409 shares during the period. Van ECK Associates Corp boosted its holdings in TeraWulf by 83.4% in the 4th quarter. Van ECK Associates Corp now owns 4,464,309 shares of the company’s stock valued at $10,714,000 after purchasing an additional 2,029,641 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of TeraWulf by 126.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,457,169 shares of the company’s stock worth $5,897,000 after acquiring an additional 1,372,195 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of TeraWulf by 47.1% during the 2nd quarter. Geode Capital Management LLC now owns 2,226,282 shares of the company’s stock worth $3,896,000 after acquiring an additional 712,633 shares during the period. 62.49% of the stock is owned by institutional investors.

TeraWulf Company Profile

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.