TeraWulf Inc. (NASDAQ:WULF) Receives Average Rating of “Buy” from Analysts

TeraWulf Inc. (NASDAQ:WULF) has received a consensus rating of “Buy” from the eight research firms that are covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $8.07.

A number of research firms have issued reports on WULF. Rosenblatt Securities restated a “buy” rating and set a $10.00 price target on shares of TeraWulf in a report on Thursday, December 5th. Stifel Canada cut TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. Northland Securities raised their target price on TeraWulf from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 price target on shares of TeraWulf in a report on Wednesday, December 4th. Finally, B. Riley restated a “buy” rating and issued a $6.00 price objective on shares of TeraWulf in a research note on Monday, October 7th.

TeraWulf Stock Down 15.0 %

NASDAQ WULF opened at $6.97 on Thursday. TeraWulf has a 1 year low of $1.24 and a 1 year high of $9.30. The company has a fifty day simple moving average of $6.85 and a 200 day simple moving average of $5.24.

Institutional Investors Weigh In On TeraWulf

A number of institutional investors have recently bought and sold shares of the business. FMR LLC lifted its holdings in shares of TeraWulf by 22.0% during the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after acquiring an additional 1,408 shares during the period. Chesapeake Capital Corp IL lifted its stake in TeraWulf by 6.6% during the third quarter. Chesapeake Capital Corp IL now owns 27,500 shares of the company’s stock worth $136,000 after purchasing an additional 1,700 shares during the period. Amalgamated Bank boosted its holdings in TeraWulf by 57.7% during the second quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after purchasing an additional 2,912 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of TeraWulf by 13.3% in the 3rd quarter. Victory Capital Management Inc. now owns 34,866 shares of the company’s stock valued at $163,000 after purchasing an additional 4,093 shares during the period. Finally, Aspect Partners LLC acquired a new position in shares of TeraWulf in the 3rd quarter worth approximately $26,000. Institutional investors and hedge funds 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.