TeraWulf (NASDAQ:WULF) Shares Down 8.7% – Time to Sell?

Shares of TeraWulf Inc. (NASDAQ:WULF) were down 8.7% during trading on Tuesday . The company traded as low as $3.69 and last traded at $3.61. Approximately 6,085,324 shares traded hands during trading, a decline of 85% from the average daily volume of 41,931,266 shares. The stock had previously closed at $3.95.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 target price on shares of TeraWulf in a report on Monday, January 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $10.00 price objective on shares of TeraWulf in a report on Monday, January 13th. Atb Cap Markets upgraded TeraWulf to a “strong-buy” rating in a research note on Sunday, January 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.50 price target on shares of TeraWulf in a report on Monday, January 13th. Finally, Northland Securities reissued an “outperform” rating and set a $10.00 price objective on shares of TeraWulf in a report on Tuesday, December 24th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $8.64.

TeraWulf Stock Down 8.7 %

The stock has a 50 day simple moving average of $5.52 and a two-hundred day simple moving average of $5.58.

Institutional Trading of TeraWulf

Institutional investors and hedge funds have recently bought and sold shares of the business. Rosenberg Matthew Hamilton purchased a new position in TeraWulf during the 4th quarter worth $32,000. CoreCap Advisors LLC grew its holdings in shares of TeraWulf by 67.9% during the fourth quarter. CoreCap Advisors LLC now owns 7,554 shares of the company’s stock worth $43,000 after buying an additional 3,054 shares during the last quarter. FMR LLC increased its position 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 acquiring an additional 1,408 shares during the period. KBC Group NV acquired a new position in TeraWulf in the 3rd quarter valued at about $39,000. Finally, Hodges Capital Management Inc. purchased a new stake in TeraWulf during the 3rd quarter valued at approximately $47,000. Hedge funds and other 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.