TeraWulf (NASDAQ:WULF) Shares Up 10.4% – Should You Buy?

TeraWulf Inc. (NASDAQ:WULF)’s stock price shot up 10.4% during mid-day trading on Wednesday . The stock traded as high as $6.23 and last traded at $6.15. 7,391,952 shares traded hands during trading, a decline of 75% from the average session volume of 30,063,967 shares. The stock had previously closed at $5.57.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WULF. Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 price objective on shares of TeraWulf in a report on Monday, January 6th. Needham & Company LLC restated a “buy” rating and set a $9.50 target price on shares of TeraWulf in a report on Monday. Stifel Canada lowered TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, October 29th. B. Riley lifted their price objective on TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Keefe, Bruyette & Woods assumed coverage on TeraWulf in a research note on Wednesday, January 8th. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $8.64.

TeraWulf Stock Performance

The business has a 50-day moving average of $6.80 and a two-hundred day moving average of $5.52.

Institutional Investors Weigh In On TeraWulf

A number of institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in TeraWulf by 22.0% during the third quarter. FMR LLC now owns 7,803 shares of the company’s stock valued at $37,000 after purchasing an additional 1,408 shares in the last quarter. Chesapeake Capital Corp IL boosted its holdings in TeraWulf by 6.6% during the third quarter. Chesapeake Capital Corp IL now owns 27,500 shares of the company’s stock valued at $136,000 after purchasing an additional 1,700 shares in the last quarter. ARS Investment Partners LLC boosted its holdings in TeraWulf by 20.0% during the fourth quarter. ARS Investment Partners LLC now owns 12,000 shares of the company’s stock valued at $68,000 after purchasing an additional 2,000 shares in the last quarter. 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. Finally, Victory Capital Management Inc. boosted its holdings in TeraWulf by 13.3% during the third 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 in the last quarter. 62.49% of the stock is owned by institutional investors and hedge funds.

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.