Geode Capital Management LLC Raises Stock Holdings in TeraWulf Inc. (NASDAQ:WULF)

Geode Capital Management LLC boosted its stake in shares of TeraWulf Inc. (NASDAQ:WULF) by 12.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,183,123 shares of the company’s stock after acquiring an additional 820,354 shares during the quarter. Geode Capital Management LLC’s holdings in TeraWulf were worth $33,623,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Barclays PLC lifted its holdings in shares of TeraWulf by 419.7% in the 3rd quarter. Barclays PLC now owns 424,748 shares of the company’s stock worth $1,989,000 after acquiring an additional 343,016 shares during the last quarter. Gordian Capital Singapore Pte Ltd acquired a new position in TeraWulf during the third quarter worth $129,000. Hodges Capital Management Inc. purchased a new position in shares of TeraWulf during the third quarter worth $47,000. Main Management ETF Advisors LLC acquired a new stake in shares of TeraWulf in the third quarter valued at $875,000. Finally, State Street Corp raised its holdings in shares of TeraWulf by 3.8% in the 3rd 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 period. 62.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on WULF. B. Riley raised their target price on TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Needham & Company LLC raised their price objective on shares of TeraWulf from $6.00 to $9.50 and gave the company 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 report on Tuesday, October 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 price target on shares of TeraWulf in a research report on Wednesday, December 4th. Finally, Northland Securities restated an “outperform” rating and issued a $10.00 price target on shares of TeraWulf in a research note on Tuesday. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, TeraWulf has an average rating of “Buy” and a consensus target price of $8.64.

TeraWulf Price Performance

Shares of NASDAQ:WULF opened at $6.23 on Thursday. TeraWulf Inc. has a 52 week low of $1.24 and a 52 week high of $9.30. The company’s 50 day moving average is $7.03 and its two-hundred day moving average is $5.36.

TeraWulf 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.