TeraWulf Inc. (NASDAQ:WULF) Short Interest Update

TeraWulf Inc. (NASDAQ:WULF) was the recipient of a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 27,250,000 shares, a decline of 31.3% from the March 31st total of 39,670,000 shares. Based on an average trading volume of 18,960,000 shares, the days-to-cover ratio is presently 1.4 days. Currently, 13.4% of the company’s shares are sold short.

Institutional Investors Weigh In On TeraWulf

Several hedge funds have recently bought and sold shares of the business. Miracle Mile Advisors LLC bought a new stake in TeraWulf during the first quarter worth about $29,000. Wealth Enhancement Advisory Services LLC boosted its stake in TeraWulf by 26.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 380,461 shares of the company’s stock worth $1,001,000 after acquiring an additional 79,925 shares in the last quarter. GSG Advisors LLC bought a new stake in TeraWulf during the first quarter worth about $237,000. Vima LLC bought a new position in shares of TeraWulf in the fourth quarter worth approximately $346,000. Finally, Intrinsic Edge Capital Management LLC bought a new position in shares of TeraWulf in the fourth quarter worth approximately $1,200,000. Institutional investors own 62.49% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Rosenblatt Securities started coverage on shares of TeraWulf in a research report on Tuesday, April 9th. They issued a “buy” rating and a $4.20 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $4.00 price target on shares of TeraWulf in a research report on Thursday, March 28th. B. Riley reduced their price target on shares of TeraWulf from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Finally, Compass Point reduced their price target on shares of TeraWulf from $4.50 to $3.50 and set a “buy” rating on the stock in a research report on Thursday, March 21st. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $3.66.

TeraWulf Price Performance

NASDAQ:WULF opened at $2.47 on Friday. TeraWulf has a one year low of $0.89 and a one year high of $4.04. The company’s 50-day simple moving average is $2.18 and its 200 day simple moving average is $1.79.

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.