TeraWulf Inc. (NASDAQ:WULF) Receives $8.64 Average Price Target from Brokerages

TeraWulf Inc. (NASDAQ:WULF) has been given a consensus recommendation of “Buy” by the ten research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $8.64.

WULF has been the subject of a number of recent research reports. Needham & Company LLC restated a “buy” rating and issued a $9.50 price objective on shares of TeraWulf in a report on Monday, January 13th. B. Riley upped their price target on shares of TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Rosenblatt Securities reaffirmed a “buy” rating and set a $10.00 price objective on shares of TeraWulf in a research note on Monday, January 13th. Stifel Canada lowered TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods started coverage on TeraWulf in a research report on Wednesday, January 8th. They set a “market perform” rating on the stock.

Institutional Investors Weigh In On TeraWulf

A number of large investors have recently made changes to their positions in WULF. Geode Capital Management LLC lifted 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 worth $33,623,000 after acquiring an additional 820,354 shares during the period. State Street Corp raised its holdings in TeraWulf by 3.8% in the 3rd quarter. State Street Corp now owns 6,283,196 shares of the company’s stock worth $29,405,000 after purchasing an additional 227,186 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of TeraWulf in the 2nd quarter worth about $22,443,000. Hood River Capital Management LLC bought a new stake in shares of TeraWulf during the 2nd quarter valued at about $20,532,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of TeraWulf by 258.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock valued at $11,063,000 after buying an additional 1,704,013 shares during the period. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Stock Performance

NASDAQ:WULF opened at $6.40 on Monday. The business has a 50 day moving average of $6.76 and a 200 day moving average of $5.54. TeraWulf has a 1-year low of $1.24 and a 1-year 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.