TeraWulf Inc. (NASDAQ:WULF) Given Average Rating of “Buy” by Analysts

Shares of TeraWulf Inc. (NASDAQ:WULF) have been given an average recommendation of “Buy” by the ten brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $8.64.

WULF has been the topic of several research analyst reports. Keefe, Bruyette & Woods started coverage on TeraWulf in a research report on Wednesday, January 8th. They issued a “market perform” rating on the stock. B. Riley upped their price target on TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. 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 restated an “outperform” rating and set a $10.00 target price on shares of TeraWulf in a research report on Tuesday, December 24th. Finally, Atb Cap Markets upgraded shares of TeraWulf to a “strong-buy” rating in a report on Sunday, January 5th.

Institutional Investors Weigh In On TeraWulf

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in shares of TeraWulf by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 110,251 shares of the company’s stock valued at $516,000 after purchasing an additional 4,756 shares during the last quarter. Franklin Resources Inc. boosted its stake in TeraWulf by 10.4% during the third quarter. Franklin Resources Inc. now owns 686,219 shares of the company’s stock worth $3,081,000 after buying an additional 64,634 shares during the period. Tidal Investments LLC increased its position in TeraWulf by 1,389.8% during the third quarter. Tidal Investments LLC now owns 868,692 shares of the company’s stock valued at $4,065,000 after acquiring an additional 810,382 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of TeraWulf in the third quarter valued at $434,000. Finally, Geode Capital Management LLC lifted its holdings in shares of TeraWulf by 12.9% in the 3rd quarter. Geode Capital Management LLC now owns 7,183,123 shares of the company’s stock worth $33,623,000 after acquiring an additional 820,354 shares during the last quarter. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

TeraWulf Stock Performance

Shares of WULF stock opened at $5.40 on Monday. The company’s fifty day moving average price is $6.91 and its 200-day moving average price is $5.50. TeraWulf has a one year low of $1.24 and a one year high of $9.30.

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.