TeraWulf (NASDAQ:WULF) Trading Down 3.3% – What’s Next?

TeraWulf Inc. (NASDAQ:WULF)’s stock price fell 3.3% on Thursday . The company traded as low as $6.91 and last traded at $6.96. 6,462,639 shares traded hands during trading, a decline of 69% from the average session volume of 21,147,883 shares. The stock had previously closed at $7.20.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on WULF shares. Northland Securities boosted their price objective on shares of TeraWulf from $8.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Needham & Company LLC upped their price objective on TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 target price on shares of TeraWulf in a research note on Thursday, October 3rd. B. Riley restated a “buy” rating and set a $6.00 price target on shares of TeraWulf in a research report on Monday, October 7th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $5.00 price objective on shares of TeraWulf in a research report on Tuesday, October 8th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $7.21.

TeraWulf Price Performance

The stock’s 50-day moving average is $5.67 and its 200-day moving average is $4.50.

Institutional Trading of TeraWulf

Several institutional investors have recently modified their holdings of WULF. Aspect Partners LLC acquired a new position in TeraWulf in the third quarter worth approximately $26,000. Amalgamated Bank increased its holdings in shares of TeraWulf by 57.7% in the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after purchasing an additional 2,912 shares during the period. FMR LLC boosted its stake in shares of TeraWulf by 22.0% during the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock valued at $37,000 after buying an additional 1,408 shares during the period. KBC Group NV acquired a new position in TeraWulf in the 3rd quarter worth about $39,000. Finally, ARS Investment Partners LLC acquired a new stake in TeraWulf in the second quarter valued at approximately $44,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

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.