TeraWulf (NASDAQ:WULF) Trading Up 7.3% – Should You Buy?

Shares of TeraWulf Inc. (NASDAQ:WULF) rose 7.3% on Friday . The stock traded as high as $7.87 and last traded at $7.82. Approximately 5,560,887 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 21,271,035 shares. The stock had previously closed at $7.29.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on WULF shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price target on shares of TeraWulf in a research report on Thursday, October 3rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $5.00 target price on shares of TeraWulf in a research report on Tuesday, October 8th. Needham & Company LLC boosted their price target on TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. B. Riley reiterated a “buy” rating and issued a $6.00 target price on shares of TeraWulf in a research note on Monday, October 7th. Finally, Stifel Canada lowered shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $7.21.

TeraWulf Stock Performance

The stock’s 50 day simple moving average is $6.02 and its 200-day simple moving average is $4.69.

Institutional Trading of TeraWulf

Several large investors have recently added to or reduced their stakes in WULF. Point72 Asset Management L.P. acquired a new stake in shares of TeraWulf during the second quarter worth about $22,443,000. Hood River Capital Management LLC acquired a new stake in TeraWulf during the 2nd quarter valued at approximately $20,532,000. Driehaus Capital Management LLC acquired a new stake in shares of TeraWulf in the second quarter worth $9,948,000. Duquesne Family Office LLC acquired a new stake in shares of TeraWulf in the second quarter worth $9,301,000. Finally, Zweig DiMenna Associates LLC purchased a new position in shares of TeraWulf during the third quarter worth $9,489,000. 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.