TeraWulf (NASDAQ:WULF) Stock Price Up 8.6% – Still a Buy?

TeraWulf Inc. (NASDAQ:WULF) traded up 8.6% during mid-day trading on Tuesday . The stock traded as high as $6.32 and last traded at $6.31. 7,787,157 shares changed hands during trading, a decline of 64% from the average session volume of 21,538,168 shares. The stock had previously closed at $5.81.

Wall Street Analysts Forecast Growth

WULF has been the topic of several recent research reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $10.00 price target on shares of TeraWulf in a research note on Thursday, December 5th. Northland Securities lifted their price target on shares of TeraWulf from $8.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Needham & Company LLC raised their target price on shares of TeraWulf from $6.00 to $9.50 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Stifel Canada downgraded TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. Finally, B. Riley raised their price target on TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $8.64.

TeraWulf Trading Up 8.1 %

The firm’s 50-day moving average is $6.98 and its 200-day moving average is $5.33.

Hedge Funds Weigh In On TeraWulf

Several institutional investors and hedge funds have recently bought and sold shares of WULF. FMR LLC raised its stake in shares of TeraWulf by 22.0% in the third quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after buying an additional 1,408 shares during the period. Chesapeake Capital Corp IL boosted its position in shares of TeraWulf by 6.6% in the third quarter. Chesapeake Capital Corp IL now owns 27,500 shares of the company’s stock worth $136,000 after purchasing an additional 1,700 shares during the period. Amalgamated Bank increased its stake in shares of TeraWulf by 57.7% in the second quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock worth $35,000 after purchasing an additional 2,912 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of TeraWulf by 13.3% during the 3rd quarter. Victory Capital Management Inc. now owns 34,866 shares of the company’s stock valued at $163,000 after purchasing an additional 4,093 shares during the period. Finally, Aspect Partners LLC purchased a new position in shares of TeraWulf during the 3rd quarter valued at $26,000. 62.49% of the stock is currently 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.