TeraWulf (NASDAQ:WULF) Trading Up 11.4%

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

Analyst Upgrades and Downgrades

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

TeraWulf Stock Performance

The firm’s 50 day moving average is $2.18 and its 200-day moving average is $1.85.

Institutional Trading of TeraWulf

Several large investors have recently bought and sold shares of WULF. SG Americas Securities LLC purchased a new stake in TeraWulf during the 3rd quarter valued at about $76,000. Raymond James & Associates acquired a new position in TeraWulf in the 3rd quarter valued at about $204,000. Bank of New York Mellon Corp boosted its holdings in TeraWulf by 95.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 416,006 shares of the company’s stock valued at $524,000 after purchasing an additional 203,584 shares during the last quarter. Arizona State Retirement System acquired a new position in TeraWulf in the 3rd quarter valued at about $38,000. Finally, Swiss National Bank acquired a new position in TeraWulf in the 3rd quarter valued at about $294,000. Hedge funds and other institutional investors 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.