TeraWulf (NASDAQ:WULF) Trading Up 11.4%

TeraWulf Inc. (NASDAQ:WULF) traded up 11.4% during mid-day trading on Monday . The company traded as high as $2.44 and last traded at $2.44. 5,465,933 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 19,073,865 shares. The stock had previously closed at $2.19.

Analyst Upgrades and Downgrades

WULF has been the topic of several analyst reports. B. Riley cut their price target on shares of TeraWulf from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $4.00 price target on shares of TeraWulf in a research note on Thursday, March 28th. Rosenblatt Securities initiated coverage on TeraWulf in a research note on Tuesday, April 9th. They issued a “buy” rating and a $4.20 price objective on the stock. Finally, Compass Point decreased their target price on TeraWulf from $4.50 to $3.50 and set a “buy” rating for the company in a research report on Thursday, March 21st. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $3.66.

TeraWulf Stock Performance

The firm has a 50-day moving average of $2.18 and a two-hundred day moving average of $1.84.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Van ECK Associates Corp raised its holdings in TeraWulf by 50.8% in the 1st quarter. Van ECK Associates Corp now owns 6,733,179 shares of the company’s stock valued at $17,708,000 after acquiring an additional 2,268,870 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in TeraWulf by 126.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,457,169 shares of the company’s stock worth $5,897,000 after buying an additional 1,372,195 shares in the last quarter. Axxcess Wealth Management LLC increased its holdings in TeraWulf by 356.2% in the 3rd quarter. Axxcess Wealth Management LLC now owns 1,000,000 shares of the company’s stock valued at $1,260,000 after buying an additional 780,786 shares during the period. Luminus Management LLC raised its stake in shares of TeraWulf by 97.4% in the 3rd quarter. Luminus Management LLC now owns 1,099,393 shares of the company’s stock valued at $1,385,000 after buying an additional 542,496 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC bought a new position in shares of TeraWulf during the 4th quarter worth about $1,200,000. 62.49% of the stock is currently 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.