TeraWulf (NASDAQ:WULF) Stock Price Expected to Rise, B. Riley Analyst Says

TeraWulf (NASDAQ:WULF) had its target price raised by B. Riley from $8.00 to $10.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s price objective suggests a potential upside of 51.29% from the stock’s previous close.

Several other research firms have also issued reports on WULF. Needham & Company LLC increased their price objective on TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Stifel Canada cut shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. Northland Securities boosted their price target on shares of TeraWulf from $8.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 price objective on shares of TeraWulf in a report on Wednesday, December 4th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $10.00 target price on shares of TeraWulf in a research note on Thursday, December 5th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $8.64.

TeraWulf Trading Up 1.8 %

WULF stock opened at $6.61 on Thursday. TeraWulf has a 1-year low of $1.24 and a 1-year high of $9.30. The business’s 50 day moving average is $6.95 and its 200-day moving average is $5.28.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake in shares of TeraWulf by 97.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock valued at $3,757,000 after buying an additional 417,369 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in TeraWulf in the second quarter worth about $250,000. Principal Financial Group Inc. raised its holdings in TeraWulf by 75.6% during the 2nd quarter. Principal Financial Group Inc. now owns 30,529 shares of the company’s stock worth $136,000 after purchasing an additional 13,142 shares during the last quarter. Rhumbline Advisers lifted its position in TeraWulf by 66.8% during the 2nd quarter. Rhumbline Advisers now owns 299,545 shares of the company’s stock valued at $1,333,000 after purchasing an additional 119,911 shares during the period. Finally, Arizona State Retirement System acquired a new position in TeraWulf during the 2nd quarter valued at about $282,000. Institutional investors own 62.49% of the company’s stock.

About TeraWulf

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.