TeraWulf (NASDAQ:WULF) Trading 11.4% Higher

TeraWulf Inc. (NASDAQ:WULF) traded up 11.4% during mid-day trading on Monday . The company traded as high as $2.44 and last traded at $2.44. 5,465,933 shares traded hands during trading, a decline of 71% from the average session volume of 19,073,865 shares. The stock had previously closed at $2.19.

Analysts Set New Price Targets

Several brokerages recently issued reports on WULF. B. Riley dropped their price target on TeraWulf from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Cantor Fitzgerald restated an “overweight” rating and set a $4.00 price target on shares of TeraWulf in a research note on Thursday, March 28th. Compass Point lowered their price objective 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. Finally, Rosenblatt Securities started coverage on shares of TeraWulf in a research report on Tuesday, April 9th. They set a “buy” rating and a $4.20 price objective for the company. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, TeraWulf presently has an average rating of “Buy” and an average target price of $3.66.

TeraWulf Stock Performance

The stock’s 50 day moving average price is $2.18 and its two-hundred day moving average price is $1.84.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Miracle Mile Advisors LLC acquired a new stake in shares of TeraWulf in the 1st quarter worth approximately $29,000. Apollon Wealth Management LLC acquired a new stake in TeraWulf in the fourth quarter valued at $27,000. Delta Financial Group Inc. increased its position in shares of TeraWulf by 33.6% in the first quarter. Delta Financial Group Inc. now owns 44,100 shares of the company’s stock valued at $116,000 after buying an additional 11,100 shares in the last quarter. Partners Capital Investment Group LLP acquired a new position in shares of TeraWulf during the 4th quarter worth $29,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of TeraWulf in the 4th quarter worth about $30,000. 62.49% of the stock is 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.