Stifel Financial Corp Buys New Stake in TeraWulf Inc. (NASDAQ:WULF)

Stifel Financial Corp bought a new stake in shares of TeraWulf Inc. (NASDAQ:WULF) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 10,034 shares of the company’s stock, valued at approximately $47,000.

Other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in shares of TeraWulf by 97.8% during the second quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock valued at $3,757,000 after acquiring an additional 417,369 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in TeraWulf in the 2nd quarter valued at about $250,000. Principal Financial Group Inc. boosted its stake in shares of 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 grew its holdings in shares of TeraWulf by 66.8% during the second quarter. Rhumbline Advisers now owns 299,545 shares of the company’s stock worth $1,333,000 after buying an additional 119,911 shares in the last quarter. Finally, Arizona State Retirement System acquired a new position in shares of TeraWulf in the second quarter valued at approximately $282,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Northland Securities restated an “outperform” rating and set a $10.00 target price on shares of TeraWulf in a research report on Tuesday, December 24th. Stifel Canada cut TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, October 29th. Needham & Company LLC lifted their price objective on TeraWulf from $6.00 to $9.50 and gave the company a “buy” rating in a research report on Wednesday, November 13th. B. Riley increased their target price on TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 price target on shares of TeraWulf in a research note on Wednesday, December 4th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $8.64.

TeraWulf Stock Performance

TeraWulf stock opened at $5.32 on Tuesday. TeraWulf Inc. has a 12 month low of $1.24 and a 12 month high of $9.30. The stock’s 50-day moving average is $7.06 and its 200-day moving average is $5.41.

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.