TeraWulf (NASDAQ:WULF) Trading Up 6.8% – Should You Buy?

TeraWulf Inc. (NASDAQ:WULF) shares shot up 6.8% on Thursday . The company traded as high as $7.70 and last traded at $7.70. 7,388,986 shares traded hands during trading, a decline of 65% from the average session volume of 21,342,729 shares. The stock had previously closed at $7.21.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on WULF shares. Northland Securities increased their price objective on shares of TeraWulf from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Stifel Canada lowered shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. Needham & Company LLC lifted their price objective on TeraWulf from $6.00 to $9.50 and gave the company a “buy” rating in a report on Wednesday, November 13th. B. Riley reissued a “buy” rating and issued a $6.00 target price on shares of TeraWulf in a report on Monday, October 7th. Finally, 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. Seven research 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.com, TeraWulf currently has an average rating of “Buy” and a consensus price target of $8.07.

TeraWulf Trading Down 6.5 %

The firm has a 50-day moving average of $6.62 and a 200 day moving average of $5.10.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aspect Partners LLC bought a new stake in shares of TeraWulf in the third quarter valued at about $26,000. Amalgamated Bank increased its holdings in shares of TeraWulf by 57.7% during 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 during the period. FMR LLC increased its stake in TeraWulf by 22.0% during the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after acquiring an additional 1,408 shares during the period. KBC Group NV acquired a new position in TeraWulf in the 3rd quarter valued at $39,000. Finally, Pekin Hardy Strauss Inc. acquired a new stake in shares of TeraWulf during the 2nd quarter worth $44,000. 62.49% of the stock is owned by institutional investors and hedge funds.

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.