TeraWulf Inc. (NASDAQ:WULF) Short Interest Update

TeraWulf Inc. (NASDAQ:WULF) was the recipient of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 59,470,000 shares, an increase of 24.7% from the October 15th total of 47,700,000 shares. Based on an average trading volume of 23,550,000 shares, the short-interest ratio is currently 2.5 days. Currently, 21.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of analysts have commented on WULF shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price target on shares of TeraWulf in a research report on Thursday, October 3rd. Needham & Company LLC upped their target price on TeraWulf from $6.00 to $9.50 and gave the company a “buy” rating in a research report on Wednesday. Stifel Canada lowered shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, October 29th. B. Riley reaffirmed a “buy” rating and set a $6.00 price objective on shares of TeraWulf in a research note on Monday, October 7th. Finally, Northland Securities increased their price target on TeraWulf from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, TeraWulf has a consensus rating of “Buy” and a consensus target price of $7.21.

TeraWulf Price Performance

Shares of TeraWulf stock opened at $7.18 on Friday. The business has a 50 day simple moving average of $5.49 and a two-hundred day simple moving average of $4.38. TeraWulf has a 12 month low of $1.01 and a 12 month high of $9.30.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in shares of TeraWulf in the first quarter valued at about $204,000. SG Americas Securities LLC purchased a new position in TeraWulf in the 1st quarter worth approximately $141,000. Vanguard Group Inc. lifted its stake in TeraWulf by 17.7% in the 1st quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock worth $30,830,000 after purchasing an additional 1,764,115 shares in the last quarter. PEAK6 Investments LLC acquired a new position in shares of TeraWulf during the 1st quarter worth approximately $64,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of TeraWulf by 16.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 45,082 shares of the company’s stock valued at $119,000 after purchasing an additional 6,450 shares in the last quarter. 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.