TeraWulf Inc. (NASDAQ:WULF) Receives Consensus Rating of “Buy” from Brokerages

TeraWulf Inc. (NASDAQ:WULF) has earned an average recommendation of “Buy” from the ten ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating on 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.

Several analysts recently weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $10.00 price objective on shares of TeraWulf in a research note on Monday, January 13th. Stifel Canada downgraded TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods started coverage on TeraWulf in a research report on Wednesday, January 8th. They issued a “market perform” rating for the company. Atb Cap Markets upgraded TeraWulf to a “strong-buy” rating in a research report on Sunday, January 5th. Finally, Northland Securities reiterated an “outperform” rating and issued a $10.00 target price on shares of TeraWulf in a research report on Tuesday, December 24th.

TeraWulf Stock Up 9.4 %

NASDAQ:WULF opened at $6.40 on Monday. The stock’s 50-day simple moving average is $6.80 and its 200 day simple moving average is $5.52. TeraWulf has a twelve month low of $1.24 and a twelve month high of $9.30.

Hedge Funds Weigh In On TeraWulf

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in shares of TeraWulf by 12.9% during 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 last quarter. State Street Corp increased its holdings in TeraWulf by 3.8% in the third 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. bought a new stake in TeraWulf in the second quarter worth approximately $22,443,000. Hood River Capital Management LLC bought a new stake in TeraWulf in the second quarter worth approximately $20,532,000. Finally, Charles Schwab Investment Management Inc. increased its holdings 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 purchasing an additional 1,704,013 shares in the last quarter. 62.49% of the stock is currently owned by 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.