TeraWulf (NASDAQ:WULF) Trading Down 5.2% – What’s Next?

TeraWulf Inc. (NASDAQ:WULF) shares fell 5.2% during mid-day trading on Wednesday . The company traded as low as $5.73 and last traded at $5.65. 12,422,944 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 34,936,203 shares. The stock had previously closed at $5.96.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Atb Cap Markets raised TeraWulf to a “strong-buy” rating in a research report on Sunday, January 5th. Rosenblatt Securities reaffirmed a “buy” rating and set a $10.00 price objective on shares of TeraWulf in a report on Monday, January 13th. B. Riley upped their price objective on TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Cantor Fitzgerald restated an “overweight” rating and set a $11.00 price target on shares of TeraWulf in a research note on Monday, January 6th. Finally, Needham & Company LLC restated a “buy” rating and set a $9.50 price objective on shares of TeraWulf in a research note on Monday, January 13th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $8.64.

TeraWulf Trading Up 4.9 %

The company has a fifty day moving average price of $6.67 and a 200 day moving average price of $5.55.

Institutional Trading of TeraWulf

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in TeraWulf by 12.9% in the third quarter. Geode Capital Management LLC now owns 7,183,123 shares of the company’s stock worth $33,623,000 after purchasing an additional 820,354 shares during the period. State Street Corp boosted its stake in TeraWulf by 3.8% during the third quarter. State Street Corp now owns 6,283,196 shares of the company’s stock valued at $29,405,000 after buying an additional 227,186 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in TeraWulf during the 2nd quarter worth $22,443,000. Charles Schwab Investment Management Inc. lifted its position in TeraWulf by 258.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock worth $11,063,000 after acquiring an additional 1,704,013 shares during the period. Finally, Driehaus Capital Management LLC acquired a new stake in TeraWulf during the 2nd quarter worth about $9,948,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

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.