TeraWulf (NASDAQ:WULF) Shares Down 4.1% – What’s Next?

TeraWulf Inc. (NASDAQ:WULF) shares traded down 4.1% during trading on Thursday . The company traded as low as $5.38 and last traded at $5.43. 14,753,849 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 21,651,676 shares. The stock had previously closed at $5.66.

Analyst Upgrades and Downgrades

WULF has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $11.00 price target on shares of TeraWulf in a research note on Wednesday, December 4th. B. Riley upped their target price on shares of TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Rosenblatt Securities reissued a “buy” rating and set a $10.00 price objective on shares of TeraWulf in a research note on Thursday, December 5th. Needham & Company LLC raised their target price on shares of TeraWulf from $6.00 to $9.50 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Stifel Canada cut TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $8.64.

TeraWulf Stock Performance

The stock has a 50 day simple moving average of $7.01 and a 200-day simple moving average of $5.43.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Aspect Partners LLC purchased a new stake in TeraWulf in the third quarter worth about $26,000. Amalgamated Bank grew its stake in shares of TeraWulf by 57.7% during the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after acquiring an additional 2,912 shares during the period. FMR LLC increased its holdings in TeraWulf by 22.0% in 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 in the last quarter. KBC Group NV bought a new stake in TeraWulf during the 3rd quarter worth approximately $39,000. Finally, Pekin Hardy Strauss Inc. purchased a new position in TeraWulf during the second quarter valued at approximately $44,000. 62.49% of the stock is currently owned by institutional investors.

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.