TeraWulf Inc. (NASDAQ:WULF) Receives Average Recommendation of “Buy” from Brokerages

TeraWulf Inc. (NASDAQ:WULF) has been assigned a consensus recommendation of “Buy” from the eight research firms that are currently covering the stock, Marketbeat Ratings reports. Seven 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 brokers that have updated their coverage on the stock in the last year is $7.21.

A number of analysts have issued reports on the company. Needham & Company LLC lifted their price target on TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of TeraWulf in a research note on Thursday, October 3rd. B. Riley reiterated a “buy” rating and issued a $6.00 price target on shares of TeraWulf in a research note on Monday, October 7th. Stifel Canada downgraded shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $5.00 target price on shares of TeraWulf in a research report on Tuesday, October 8th.

Hedge Funds Weigh In On TeraWulf

Institutional investors have recently modified their holdings of the business. FMR LLC grew its position in TeraWulf by 22.0% during the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after purchasing an additional 1,408 shares during the last quarter. Chesapeake Capital Corp IL grew its holdings in shares of 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 buying an additional 1,700 shares during the last quarter. Amalgamated Bank increased its position in TeraWulf by 57.7% in 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 period. Victory Capital Management Inc. raised its stake in TeraWulf by 13.3% during the 3rd quarter. Victory Capital Management Inc. now owns 34,866 shares of the company’s stock valued at $163,000 after acquiring an additional 4,093 shares during the last quarter. Finally, Aspect Partners LLC acquired a new stake in TeraWulf during the 3rd quarter worth approximately $26,000. 62.49% of the stock is owned by institutional investors and hedge funds.

TeraWulf Stock Up 6.6 %

TeraWulf stock opened at $7.45 on Friday. The company has a fifty day simple moving average of $5.79 and a 200-day simple moving average of $4.57. TeraWulf has a 12-month low of $1.07 and a 12-month high of $9.30.

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.