B. Riley Reaffirms “Buy” Rating for TeraWulf (NASDAQ:WULF)

TeraWulf (NASDAQ:WULF)‘s stock had its “buy” rating reissued by research analysts at B. Riley in a report issued on Monday, Benzinga reports. They presently have a $6.00 price objective on the stock. B. Riley’s price objective would indicate a potential upside of 26.85% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Cantor Fitzgerald raised their price target on shares of TeraWulf from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Friday, July 5th. Roth Mkm reiterated a “buy” rating and issued a $6.50 target price on shares of TeraWulf in a report on Monday, July 8th. Rosenblatt Securities boosted their target price on shares of TeraWulf from $4.20 to $5.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Finally, Roth Capital upgraded shares of TeraWulf to a “strong-buy” rating in a report on Tuesday, July 2nd. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $5.67.

TeraWulf Price Performance

WULF stock traded down $0.20 during trading on Monday, reaching $4.73. 2,626,680 shares of the company were exchanged, compared to its average volume of 20,190,668. TeraWulf has a twelve month low of $0.89 and a twelve month high of $6.51. The company has a 50-day moving average of $4.61 and a two-hundred day moving average of $3.11.

Insider Buying and Selling at TeraWulf

In other news, Treasurer Kenneth J. Deane sold 69,996 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $3.25, for a total transaction of $227,487.00. Following the completion of the sale, the treasurer now owns 337,245 shares in the company, valued at approximately $1,096,046.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 24.88% of the company’s stock.

Hedge Funds Weigh In On TeraWulf

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of TeraWulf by 17.7% in the first quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock valued at $30,830,000 after buying an additional 1,764,115 shares during the period. SG Americas Securities LLC increased its holdings in TeraWulf by 260.8% in the 2nd quarter. SG Americas Securities LLC now owns 193,304 shares of the company’s stock worth $860,000 after acquiring an additional 139,722 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in TeraWulf by 20.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 457,175 shares of the company’s stock valued at $2,034,000 after acquiring an additional 76,714 shares during the period. Quantbot Technologies LP purchased a new stake in TeraWulf during the first quarter valued at about $204,000. Finally, PEAK6 Investments LLC bought a new position in TeraWulf during the first quarter worth about $64,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

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.