TeraWulf’s (WULF) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of TeraWulf (NASDAQ:WULF) in a report issued on Monday,Benzinga reports. Needham & Company LLC currently has a $9.50 price target on the stock.

Several other equities analysts have also weighed in on WULF. Stifel Canada lowered 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 set a $11.00 price objective on shares of TeraWulf in a report on Monday, January 6th. Rosenblatt Securities reissued a “buy” rating and set a $10.00 price objective on shares of TeraWulf in a report on Monday. B. Riley increased their price objective on TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, December 19th. 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 investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $8.64.

TeraWulf Stock Down 3.7 %

Shares of WULF opened at $5.20 on Monday. The stock has a 50 day moving average of $6.89 and a 200 day moving average of $5.51. TeraWulf has a 12 month low of $1.24 and a 12 month high of $9.30.

Hedge Funds Weigh In On TeraWulf

Several hedge funds have recently made changes to their positions in the stock. FMR LLC grew its position in shares of TeraWulf by 22.0% in the third quarter. FMR LLC now owns 7,803 shares of the company’s stock valued at $37,000 after purchasing an additional 1,408 shares in the last quarter. Chesapeake Capital Corp IL grew its position in TeraWulf by 6.6% during the third quarter. Chesapeake Capital Corp IL now owns 27,500 shares of the company’s stock worth $136,000 after buying an additional 1,700 shares in the last quarter. Amalgamated Bank grew its position in TeraWulf by 57.7% during the second quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock worth $35,000 after buying an additional 2,912 shares in the last quarter. Victory Capital Management Inc. grew its position in TeraWulf by 13.3% during the third quarter. Victory Capital Management Inc. now owns 34,866 shares of the company’s stock worth $163,000 after buying an additional 4,093 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in TeraWulf by 4.5% during the third quarter. JPMorgan Chase & Co. now owns 110,251 shares of the company’s stock worth $516,000 after buying an additional 4,756 shares in the last quarter. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

TeraWulf Company 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.