TeraWulf (NASDAQ:WULF) Shares Down 5.2% – Here’s Why

Shares of TeraWulf Inc. (NASDAQ:WULF) traded down 5.2% during mid-day trading on Wednesday . The company traded as low as $5.73 and last traded at $5.65. 12,422,944 shares were traded during trading, a decline of 64% from the average session volume of 34,936,203 shares. The stock had previously closed at $5.96.

Analysts Set New Price Targets

A number of analysts recently commented on WULF shares. Keefe, Bruyette & Woods assumed coverage on TeraWulf in a research report on Wednesday, January 8th. They issued a “market perform” rating for the company. Rosenblatt Securities restated a “buy” rating and set a $10.00 price objective on shares of TeraWulf in a report on Monday, January 13th. Stifel Canada lowered TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. Northland Securities restated an “outperform” rating and set a $10.00 price target on shares of TeraWulf in a research note on Tuesday, December 24th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $11.00 price objective on shares of TeraWulf in a research note on Monday, January 6th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $8.64.

TeraWulf Stock Performance

The stock’s fifty day simple moving average is $6.63 and its 200-day simple moving average is $5.56.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WULF. Aspect Partners LLC bought a new position in shares of TeraWulf during the 3rd quarter worth approximately $26,000. Rosenberg Matthew Hamilton purchased a new stake in shares of TeraWulf during the fourth quarter valued at approximately $32,000. Amalgamated Bank lifted its holdings in TeraWulf by 57.7% during the second quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock worth $35,000 after acquiring an additional 2,912 shares during the period. FMR LLC boosted its position in TeraWulf by 22.0% in the third quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after purchasing an additional 1,408 shares during the last quarter. Finally, KBC Group NV bought a new position in TeraWulf in the 3rd quarter valued at $39,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

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.