TeraWulf (NASDAQ:WULF) Trading Up 5.5% – Time to Buy?

TeraWulf Inc. (NASDAQ:WULF)’s stock price rose 5.5% on Friday . The stock traded as high as $5.78 and last traded at $5.76. Approximately 2,182,676 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 20,711,676 shares. The stock had previously closed at $5.46.

Wall Street Analysts Forecast Growth

Several research analysts have commented on WULF shares. Cantor Fitzgerald reissued an “overweight” rating and set a $11.00 target price on shares of TeraWulf in a research note on Wednesday, December 4th. Stifel Canada lowered shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. Rosenblatt Securities restated a “buy” rating and issued a $10.00 target price on shares of TeraWulf in a report on Thursday, December 5th. Northland Securities reissued an “outperform” rating and issued a $10.00 price objective on shares of TeraWulf in a research report on Tuesday, December 24th. Finally, Needham & Company LLC upped their target price on TeraWulf from $6.00 to $9.50 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $8.64.

TeraWulf Stock Up 14.3 %

The firm has a fifty day simple moving average of $6.99 and a 200-day simple moving average of $5.43.

Institutional Investors Weigh In On TeraWulf

Large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its stake in shares of TeraWulf by 4.5% in the third quarter. JPMorgan Chase & Co. now owns 110,251 shares of the company’s stock worth $516,000 after purchasing an additional 4,756 shares in the last quarter. Franklin Resources Inc. grew its position in shares of TeraWulf by 10.4% in the third quarter. Franklin Resources Inc. now owns 686,219 shares of the company’s stock valued at $3,081,000 after purchasing an additional 64,634 shares in the last quarter. Tidal Investments LLC lifted its holdings in TeraWulf by 1,389.8% during the 3rd quarter. Tidal Investments LLC now owns 868,692 shares of the company’s stock worth $4,065,000 after purchasing an additional 810,382 shares in the last quarter. Virtu Financial LLC bought a new position in TeraWulf in the 3rd quarter worth about $434,000. Finally, Geode Capital Management LLC increased its holdings in TeraWulf by 12.9% during the 3rd 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. 62.49% of the stock is owned by hedge funds and other institutional investors.

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.