TeraWulf (NASDAQ:WULF) Trading Down 3.3% – Here’s What Happened

by · The Markets Daily

TeraWulf Inc. (NASDAQ:WULF – Get Free Report) shares fell 3.3% on Thursday . The company traded as low as $6.91 and last traded at $6.96. 6,462,639 shares were traded during mid-day trading, a decline of 69% from the average session volume of 21,147,883 shares. The stock had previously closed at $7.20.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Northland Securities raised their price objective on TeraWulf from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Rosenblatt Securities reissued a “buy” rating and issued a $5.00 price objective on shares of TeraWulf in a research report on Tuesday, October 8th. Stifel Canada lowered shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, October 29th. Needham & Company LLC increased their price target on TeraWulf from $6.00 to $9.50 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, B. Riley reaffirmed a “buy” rating and issued a $6.00 target price on shares of TeraWulf in a research report on Monday, October 7th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $7.21.

Get Our Latest Report on TeraWulf

TeraWulf Stock Down 0.4 %

The business has a fifty day moving average of $5.67 and a 200 day moving average of $4.50.

Institutional Trading of TeraWulf

A number of hedge funds have recently made changes to their positions in WULF. Vanguard Group Inc. grew its holdings in TeraWulf by 17.7% during the 1st quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock worth $30,830,000 after acquiring an additional 1,764,115 shares in the last quarter. Geode Capital Management LLC increased its holdings in TeraWulf by 12.9% in the third quarter. Geode Capital Management LLC now owns 7,183,123 shares of the company’s stock valued at $33,623,000 after buying 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 valued at $29,405,000 after buying an additional 227,186 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in TeraWulf during the second quarter valued at approximately $22,443,000. Finally, Hood River Capital Management LLC bought a new position in TeraWulf during the 2nd quarter worth approximately $20,532,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

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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