TeraWulf (NASDAQ:WULF) Shares Up 6.8% – Here’s What Happened

TeraWulf Inc. (NASDAQ:WULF)’s stock price was up 6.8% on Thursday . The stock traded as high as $7.70 and last traded at $7.70. Approximately 7,388,986 shares were traded during trading, a decline of 65% from the average daily volume of 21,342,729 shares. The stock had previously closed at $7.21.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. B. Riley reaffirmed a “buy” rating and set a $6.00 target price on shares of TeraWulf in a report on Monday, October 7th. Rosenblatt Securities reissued a “buy” rating and issued a $10.00 target price on shares of TeraWulf in a research note on Thursday, December 5th. Stifel Canada lowered TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 price target on shares of TeraWulf in a research report on Wednesday, December 4th. Finally, Needham & Company LLC upped their target price on shares of TeraWulf from $6.00 to $9.50 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $8.07.

TeraWulf Stock Performance

The business’s 50 day simple moving average is $6.51 and its two-hundred day simple moving average is $5.05.

Hedge Funds Weigh In On TeraWulf

Several large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in TeraWulf by 16.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,082 shares of the company’s stock valued at $119,000 after buying an additional 6,450 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of TeraWulf by 260.8% during the second quarter. SG Americas Securities LLC now owns 193,304 shares of the company’s stock valued at $860,000 after acquiring an additional 139,722 shares during the last quarter. Dynamic Advisor Solutions LLC acquired a new position in shares of TeraWulf during the second quarter worth $101,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of TeraWulf by 20.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 457,175 shares of the company’s stock worth $2,034,000 after purchasing an additional 76,714 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in TeraWulf by 97.8% in the second quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock valued at $3,757,000 after purchasing an additional 417,369 shares during the period. 62.49% of the stock is currently owned by 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.