TeraWulf (NASDAQ:WULF) Shares Down 4.1% – Time to Sell?

TeraWulf Inc. (NASDAQ:WULF)’s stock price was down 4.1% during mid-day trading on Thursday . The stock traded as low as $5.38 and last traded at $5.43. Approximately 14,753,849 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 21,651,676 shares. The stock had previously closed at $5.66.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on WULF shares. Stifel Canada downgraded TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. Northland Securities reissued an “outperform” rating and set a $10.00 price objective on shares of TeraWulf in a report on Tuesday, December 24th. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 target price on shares of TeraWulf in a research report on Wednesday, December 4th. Rosenblatt Securities reiterated a “buy” rating and set a $10.00 price target on shares of TeraWulf in a research report on Thursday, December 5th. Finally, Needham & Company LLC boosted their price objective on shares of TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $8.64.

TeraWulf Trading Down 4.9 %

The stock’s fifty day moving average is $7.01 and its 200 day moving average is $5.43.

Institutional Trading of TeraWulf

A number of institutional investors have recently modified their holdings of the company. Aspect Partners LLC bought a new position in shares of TeraWulf during the third quarter valued at approximately $26,000. Amalgamated Bank lifted its position in shares of TeraWulf by 57.7% in the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock worth $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 purchasing an additional 1,408 shares in the last quarter. KBC Group NV purchased a new position in shares of TeraWulf during the third quarter valued at about $39,000. Finally, Pekin Hardy Strauss Inc. bought a new position in TeraWulf in the second quarter worth about $44,000. 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.