TeraWulf (NASDAQ:WULF) Trading Down 6.3% – Here’s What Happened

TeraWulf Inc. (NASDAQ:WULF)’s stock price traded down 6.3% during trading on Wednesday . The stock traded as low as $7.67 and last traded at $7.68. 3,681,022 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 21,389,580 shares. The stock had previously closed at $8.20.

Analyst Upgrades and Downgrades

Several analysts have recently commented on WULF shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $11.00 target price on shares of TeraWulf in a research report on Wednesday, December 4th. B. Riley restated a “buy” rating and set a $6.00 price objective on shares of TeraWulf in a research report on Monday, October 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $10.00 target price on shares of TeraWulf in a research note on Thursday, December 5th. Needham & Company LLC increased their price target on shares of TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Stifel Canada cut shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, October 29th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, TeraWulf presently has an average rating of “Buy” and an average target price of $8.07.

TeraWulf Trading Down 2.0 %

The firm’s 50-day moving average is $6.79 and its two-hundred day moving average is $5.23.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in TeraWulf by 12.9% in the third quarter. Geode Capital Management LLC now owns 7,183,123 shares of the company’s stock worth $33,623,000 after purchasing an additional 820,354 shares in the last quarter. State Street Corp lifted its position in shares of TeraWulf by 3.8% in the third quarter. State Street Corp now owns 6,283,196 shares of the company’s stock worth $29,405,000 after buying an additional 227,186 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of TeraWulf during the 2nd quarter worth about $22,443,000. Hood River Capital Management LLC acquired a new position in shares of TeraWulf during the 2nd quarter valued at about $20,532,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of TeraWulf by 258.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock valued at $11,063,000 after acquiring an additional 1,704,013 shares in the last quarter. 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.