TeraWulf (NASDAQ:WULF) Trading Down 6% – Should You Sell?

TeraWulf Inc. (NASDAQ:WULF)’s stock price traded down 6% during mid-day trading on Tuesday . The stock traded as low as $6.80 and last traded at $6.85. 7,409,702 shares were traded during mid-day trading, a decline of 65% from the average session volume of 21,337,322 shares. The stock had previously closed at $7.29.

Analysts Set New Price Targets

WULF has been the topic of a number of analyst reports. Northland Securities lifted their price objective on shares of TeraWulf from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $10.00 price target on shares of TeraWulf in a research note on Thursday, December 5th. B. Riley reissued a “buy” rating and issued a $6.00 price objective on shares of TeraWulf in a research report on Monday, October 7th. Stifel Canada lowered TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. Finally, Needham & Company LLC increased their price target on TeraWulf from $6.00 to $9.50 and gave the company a “buy” rating in a report on Wednesday, November 13th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, TeraWulf presently has a consensus rating of “Buy” and a consensus target price of $8.07.

TeraWulf Stock Performance

The firm’s 50-day moving average price is $6.41 and its 200 day moving average price is $5.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in WULF. Charles Schwab Investment Management Inc. lifted its stake in TeraWulf by 258.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock worth $11,063,000 after purchasing an additional 1,704,013 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of TeraWulf in the 3rd quarter valued at about $340,000. SG Americas Securities LLC boosted its holdings in shares of TeraWulf by 260.8% in the 2nd quarter. SG Americas Securities LLC now owns 193,304 shares of the company’s stock valued at $860,000 after buying an additional 139,722 shares during the period. Bank of New York Mellon Corp grew its position in shares of TeraWulf by 97.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock valued at $3,757,000 after buying an additional 417,369 shares during the last quarter. Finally, Central Asset Investments & Management Holdings HK Ltd acquired a new stake in TeraWulf during the second quarter worth about $1,095,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

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.