TeraWulf (NASDAQ:WULF) Receives Outperform Rating from Northland Securities

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

WULF has been the subject of several other reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $10.00 price objective on shares of TeraWulf in a report on Thursday, December 5th. Stifel Canada lowered TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 target price on shares of TeraWulf in a research note on Wednesday, December 4th. B. Riley lifted their target price on TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Needham & Company LLC increased their price target on shares of TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $8.64.

TeraWulf Price Performance

TeraWulf stock traded up $0.42 during trading on Tuesday, hitting $6.23. The stock had a trading volume of 17,231,860 shares, compared to its average volume of 21,581,697. The stock’s 50 day moving average is $6.98 and its two-hundred day moving average is $5.33. TeraWulf has a 1 year low of $1.24 and a 1 year high of $9.30.

Institutional Trading of TeraWulf

Several institutional investors and hedge funds have recently made changes to their positions in WULF. Geode Capital Management LLC increased its stake in TeraWulf by 12.9% in the third 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 last quarter. State Street Corp increased its position in shares of TeraWulf by 3.8% during the 3rd 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 during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of TeraWulf during the 2nd quarter valued at about $22,443,000. Hood River Capital Management LLC bought a new stake in TeraWulf in the 2nd quarter worth approximately $20,532,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in TeraWulf by 258.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock worth $11,063,000 after buying an additional 1,704,013 shares in the last quarter. Hedge funds and other institutional investors own 62.49% of the company’s stock.

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.