TeraWulf’s (WULF) “Outperform” Rating Reaffirmed at Northland Securities

TeraWulf (NASDAQ:WULF)‘s stock had its “outperform” rating reissued by equities research analysts at Northland Securities in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $10.00 price target on the stock. Northland Securities’ price objective would indicate a potential upside of 60.51% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. B. Riley lifted their target price on shares of TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Rosenblatt Securities reiterated a “buy” rating and set a $10.00 target price on shares of TeraWulf in a report on Thursday, December 5th. Cantor Fitzgerald restated an “overweight” rating and set a $11.00 price target on shares of TeraWulf in a report on Wednesday, December 4th. 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 boosted their target price on TeraWulf from $6.00 to $9.50 and gave the company a “buy” rating in a research note 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. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $8.64.

TeraWulf Price Performance

WULF traded up $0.42 on Tuesday, hitting $6.23. 17,231,860 shares of the company were exchanged, compared to its average volume of 21,581,697. The firm has a fifty day simple moving average of $6.98 and a two-hundred day simple moving average of $5.33. TeraWulf has a 12 month low of $1.24 and a 12 month high of $9.30.

Institutional Trading of TeraWulf

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its position in TeraWulf by 12.9% during the 3rd quarter. Geode Capital Management LLC now owns 7,183,123 shares of the company’s stock valued at $33,623,000 after acquiring an additional 820,354 shares during the period. State Street Corp increased its stake in shares of TeraWulf by 3.8% during the third quarter. State Street Corp now owns 6,283,196 shares of the company’s stock valued at $29,405,000 after purchasing an additional 227,186 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of TeraWulf during the second quarter valued at approximately $22,443,000. Hood River Capital Management LLC purchased a new position in shares of TeraWulf during the second quarter valued at approximately $20,532,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of TeraWulf by 258.2% in the 3rd 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 in the last quarter. 62.49% of the stock is owned by hedge funds and other institutional investors.

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.