TeraWulf (NASDAQ:WULF) Trading 2.8% Higher

TeraWulf Inc. (NASDAQ:WULF) traded up 2.8% on Wednesday . The stock 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.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Rosenblatt Securities assumed coverage on TeraWulf in a report on Tuesday, April 9th. They set a “buy” rating and a $4.20 target price on the stock. Compass Point cut their target price on TeraWulf from $4.50 to $3.50 and set a “buy” rating on the stock in a report on Thursday, March 21st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $4.00 price objective on shares of TeraWulf in a research note on Thursday, March 28th. Finally, B. Riley dropped their price objective on TeraWulf from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $3.66.

TeraWulf Stock Performance

The firm has a 50 day moving average of $2.16 and a 200-day moving average of $1.73.

Hedge Funds Weigh In On TeraWulf

Several institutional investors and hedge funds have recently added to or reduced their stakes in WULF. Advisor Group Holdings Inc. increased its stake in TeraWulf by 2,542.9% during the first quarter. Advisor Group Holdings Inc. now owns 3,700 shares of the company’s stock valued at $31,000 after acquiring an additional 3,560 shares during the period. JPMorgan Chase & Co. acquired a new stake in TeraWulf during the first quarter valued at approximately $524,000. Bank of New York Mellon Corp acquired a new stake in TeraWulf during the first quarter valued at approximately $86,000. HighTower Advisors LLC boosted its holdings in TeraWulf by 7.0% during the first quarter. HighTower Advisors LLC now owns 73,905 shares of the company’s stock valued at $621,000 after purchasing an additional 4,867 shares in the last quarter. Finally, Citigroup Inc. acquired a new stake in TeraWulf during the first quarter valued at approximately $985,000. 62.49% of the stock is currently owned by institutional investors.

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.