TeraWulf (NASDAQ:WULF) Shares Gap Up After Analyst Upgrade

by · The Markets Daily

Shares of TeraWulf Inc. (NASDAQ:WULF – Get Free Report) gapped up prior to trading on Thursday after B. Riley raised their price target on the stock from $8.00 to $10.00. The stock had previously closed at $6.98, but opened at $7.30. B. Riley currently has a buy rating on the stock. TeraWulf shares last traded at $7.10, with a volume of 2,755,241 shares traded.

Other equities analysts also recently issued reports about the company. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 price target on shares of TeraWulf in a research note on Wednesday, December 4th. Northland Securities raised their target price on TeraWulf from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Stifel Canada lowered shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. Needham & Company LLC raised their price objective on shares of TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $10.00 target price on shares of TeraWulf in a report on Thursday, December 5th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, TeraWulf has an average rating of “Buy” and an average price target of $8.64.

Get Our Latest Stock Analysis on WULF

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Aspect Partners LLC bought a new stake in TeraWulf during the 3rd quarter worth approximately $26,000. Amalgamated Bank increased its stake in shares of TeraWulf by 57.7% in the second quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock worth $35,000 after purchasing an additional 2,912 shares in the last quarter. FMR LLC raised its position in shares of TeraWulf by 22.0% during 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 during the period. KBC Group NV bought a new stake in shares of TeraWulf during the 3rd quarter valued at $39,000. Finally, Pekin Hardy Strauss Inc. purchased a new position in shares of TeraWulf during the 2nd quarter valued at $44,000. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Stock Up 1.8 %

The firm’s fifty day moving average is $6.95 and its two-hundred day moving average is $5.28.

TeraWulf Company Profile

(Get Free Report)

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.

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