TeraWulf (NASDAQ:WULF) Trading 2.8% Higher

TeraWulf Inc. (NASDAQ:WULF) shares shot up 2.8% during mid-day trading on Wednesday . The company traded as high as $1.96 and last traded at $1.93. 1,097,185 shares changed hands during trading, a decline of 94% from the average session volume of 19,860,402 shares. The stock had previously closed at $1.88.

Analyst Ratings Changes

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

TeraWulf Stock Up 1.9 %

The firm has a fifty day simple moving average of $2.16 and a two-hundred day simple moving average of $1.73.

Hedge Funds Weigh In On TeraWulf

Institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of TeraWulf by 126.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,457,169 shares of the company’s stock valued at $5,897,000 after purchasing an additional 1,372,195 shares during the last quarter. Platform Technology Partners bought a new position in shares of TeraWulf during the 3rd quarter valued at about $416,000. Quadrature Capital Ltd bought a new position in shares of TeraWulf during the 3rd quarter valued at about $144,000. Swiss National Bank bought a new position in shares of TeraWulf during the 3rd quarter valued at about $294,000. Finally, Van ECK Associates Corp increased its position in shares of TeraWulf by 3.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,434,668 shares of the company’s stock valued at $3,068,000 after purchasing an additional 70,110 shares during the last quarter. 62.49% of the stock is currently owned by institutional investors.

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.