TeraWulf (NASDAQ:WULF) Shares Up 10.4% – Here’s Why

TeraWulf Inc. (NASDAQ:WULF) shot up 10.4% on Wednesday . The company traded as high as $6.23 and last traded at $6.15. 7,391,952 shares traded hands during trading, a decline of 75% from the average session volume of 30,063,967 shares. The stock had previously closed at $5.57.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. B. Riley lifted their target price on shares of TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $10.00 target price on shares of TeraWulf in a research note on Monday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 target price on shares of TeraWulf in a research note on Monday, January 6th. Atb Cap Markets upgraded shares of TeraWulf to a “strong-buy” rating in a research note on Sunday, January 5th. Finally, Northland Securities reiterated an “outperform” rating and issued a $10.00 target price on shares of TeraWulf in a research note on Tuesday, December 24th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, TeraWulf presently has an average rating of “Buy” and an average target price of $8.64.

TeraWulf Stock Down 5.3 %

The firm’s 50-day moving average is $6.80 and its two-hundred day moving average is $5.52.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Aspect Partners LLC bought a new position in TeraWulf in the 3rd quarter worth approximately $26,000. Rosenberg Matthew Hamilton bought a new stake in shares of TeraWulf during the 4th quarter valued at $32,000. Amalgamated Bank raised its position in shares of TeraWulf by 57.7% during the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after acquiring an additional 2,912 shares during the last quarter. FMR LLC raised its position in shares of TeraWulf by 22.0% during the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock valued at $37,000 after acquiring an additional 1,408 shares during the last quarter. Finally, KBC Group NV bought a new stake in shares of TeraWulf during the 3rd quarter valued at $39,000. Institutional investors own 62.49% of the company’s stock.

About TeraWulf

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.