TeraWulf Inc. (NASDAQ:WULF) Receives $8.07 Average Target Price from Analysts

TeraWulf Inc. (NASDAQ:WULF) has been assigned an average rating of “Buy” from the eight brokerages that are presently covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $8.64.

Several research analysts recently commented on WULF shares. B. Riley increased their price objective on TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Needham & Company LLC increased their target price on shares of TeraWulf from $6.00 to $9.50 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Rosenblatt Securities restated a “buy” rating and issued a $10.00 price target on shares of TeraWulf in a research report on Thursday, December 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 price objective on shares of TeraWulf in a research report on Wednesday, December 4th. Finally, Northland Securities restated an “outperform” rating and issued a $10.00 target price on shares of TeraWulf in a report on Tuesday.

Institutional Trading of TeraWulf

A number of hedge funds and other institutional investors have recently modified their holdings of WULF. Charles Schwab Investment Management Inc. increased its position in shares of TeraWulf by 258.2% during the third 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 during the last quarter. State Street Corp boosted its position in shares of TeraWulf by 3.8% during the 3rd quarter. State Street Corp now owns 6,283,196 shares of the company’s stock worth $29,405,000 after purchasing an additional 227,186 shares during the period. Intech Investment Management LLC acquired a new stake in TeraWulf in the 3rd quarter valued at approximately $340,000. Bank of New York Mellon Corp raised its position in TeraWulf by 97.8% in the second quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock valued at $3,757,000 after purchasing an additional 417,369 shares during the period. Finally, Central Asset Investments & Management Holdings HK Ltd acquired a new position in TeraWulf during the second quarter worth $1,095,000. 62.49% of the stock is owned by institutional investors and hedge funds.

TeraWulf Trading Up 7.2 %

NASDAQ:WULF opened at $6.23 on Thursday. The stock has a 50 day moving average of $7.03 and a two-hundred day moving average of $5.36. TeraWulf has a 12 month low of $1.24 and a 12 month high of $9.30.

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.