TeraWulf (NASDAQ:WULF) Trading Up 7.7% – Time to Buy?

TeraWulf Inc. (NASDAQ:WULF) traded up 7.7% during trading on Thursday . The stock traded as high as $5.09 and last traded at $5.09. 32,219,628 shares were traded during trading, a decline of 29% from the average session volume of 45,333,492 shares. The stock had previously closed at $4.73.

Analysts Set New Price Targets

A number of analysts have recently weighed in on WULF shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 price objective on shares of TeraWulf in a research note on Monday, January 6th. B. Riley lifted their price objective on TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Stifel Canada cut TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods started coverage on TeraWulf in a report on Wednesday, January 8th. They set a “market perform” rating on the stock. Finally, Atb Cap Markets raised TeraWulf to a “strong-buy” rating in a report on Sunday, January 5th. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $8.64.

TeraWulf Trading Up 5.9 %

The business has a 50-day simple moving average of $6.45 and a 200-day simple moving average of $5.56.

Hedge Funds Weigh In On TeraWulf

Large investors have recently added to or reduced their stakes in the stock. Aspect Partners LLC purchased a new position in shares of TeraWulf in the third quarter valued at approximately $26,000. Rosenberg Matthew Hamilton acquired a new position in TeraWulf in the 4th quarter valued at $32,000. Amalgamated Bank raised its stake in TeraWulf by 57.7% in the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after purchasing an additional 2,912 shares during the last quarter. FMR LLC lifted its holdings in TeraWulf by 22.0% in the 3rd 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. Finally, KBC Group NV acquired a new stake in TeraWulf during the 3rd quarter worth $39,000. 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.