TeraWulf (NASDAQ:WULF) Upgraded to “Strong-Buy” at Atb Cap Markets

Atb Cap Markets upgraded shares of TeraWulf (NASDAQ:WULF) to a strong-buy rating in a report released on Sunday morning,Zacks.com reports.

Several other research analysts have also recently weighed in on WULF. Needham & Company LLC boosted their price objective on shares of TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $10.00 target price on shares of TeraWulf in a research note on Thursday, December 5th. Stifel Canada cut shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 price objective on shares of TeraWulf in a research report on Monday. Finally, Northland Securities reiterated an “outperform” rating and set a $10.00 target price on shares of TeraWulf in a report on Tuesday, December 24th. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $8.64.

TeraWulf Price Performance

NASDAQ:WULF traded down $0.18 on Friday, reaching $6.32. The stock had a trading volume of 3,668,387 shares, compared to its average volume of 28,192,348. TeraWulf has a 1-year low of $1.24 and a 1-year high of $9.30. The stock has a fifty day moving average price of $6.98 and a 200-day moving average price of $5.47.

Institutional Investors Weigh In On TeraWulf

Several large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its holdings in shares of TeraWulf by 97.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock worth $3,757,000 after acquiring an additional 417,369 shares during the last quarter. Principal Financial Group Inc. boosted its position in TeraWulf by 75.6% during the second quarter. Principal Financial Group Inc. now owns 30,529 shares of the company’s stock worth $136,000 after purchasing an additional 13,142 shares during the period. Rhumbline Advisers increased its holdings in shares of TeraWulf by 66.8% in the second quarter. Rhumbline Advisers now owns 299,545 shares of the company’s stock valued at $1,333,000 after purchasing an additional 119,911 shares during the last quarter. Arizona State Retirement System bought a new position in shares of TeraWulf in the second quarter valued at about $282,000. Finally, Cowen AND Company LLC acquired a new stake in shares of TeraWulf during the 2nd quarter worth about $89,000. Institutional investors and hedge funds 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.