TeraWulf (NASDAQ:WULF) Shares Up 2.8%

TeraWulf Inc. (NASDAQ:WULF) shares shot up 2.8% 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 Upgrades and Downgrades

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

TeraWulf Stock Up 8.7 %

The company’s 50 day simple moving average is $2.17 and its 200 day simple moving average is $1.73.

Institutional Trading of TeraWulf

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of TeraWulf by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 9,958,205 shares of the company’s stock valued at $23,900,000 after buying an additional 81,033 shares during the period. BlackRock Inc. grew its stake in shares of TeraWulf by 42.2% during the 2nd quarter. BlackRock Inc. now owns 5,123,121 shares of the company’s stock valued at $8,965,000 after buying an additional 1,519,409 shares during the period. Van ECK Associates Corp grew its stake in shares of TeraWulf by 83.4% during the 4th quarter. Van ECK Associates Corp now owns 4,464,309 shares of the company’s stock valued at $10,714,000 after buying an additional 2,029,641 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake 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 buying an additional 1,372,195 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of TeraWulf by 47.1% during the 2nd quarter. Geode Capital Management LLC now owns 2,226,282 shares of the company’s stock valued at $3,896,000 after buying an additional 712,633 shares during the period. 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.