TeraWulf (NASDAQ:WULF) Price Target Raised to $10.00

TeraWulf (NASDAQ:WULF) had its price target lifted by research analysts at B. Riley from $8.00 to $10.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s price target indicates a potential upside of 46.84% from the company’s previous close.

WULF has been the topic of several other research reports. Needham & Company LLC raised their target price on shares of TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Northland Securities raised their price target on TeraWulf from $8.00 to $10.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. 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. Rosenblatt Securities reissued a “buy” rating and issued a $10.00 target price on shares of TeraWulf in a research report on Thursday, December 5th. Finally, Stifel Canada lowered shares of 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $8.64.

TeraWulf Price Performance

NASDAQ:WULF traded down $0.17 during mid-day trading on Thursday, reaching $6.81. The company’s stock had a trading volume of 11,563,960 shares, compared to its average volume of 21,448,109. The firm’s fifty day moving average price is $6.85 and its two-hundred day moving average price is $5.24. TeraWulf has a 12-month low of $1.24 and a 12-month high of $9.30.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in WULF. Franklin Resources Inc. increased its holdings in TeraWulf by 10.4% in the 3rd quarter. Franklin Resources Inc. now owns 686,219 shares of the company’s stock worth $3,081,000 after acquiring an additional 64,634 shares in the last quarter. Tidal Investments LLC boosted its position in shares of TeraWulf by 1,389.8% in the third quarter. Tidal Investments LLC now owns 868,692 shares of the company’s stock worth $4,065,000 after purchasing an additional 810,382 shares during the period. Virtu Financial LLC purchased a new stake in shares of TeraWulf in the third quarter worth $434,000. Geode Capital Management LLC raised its position in shares of TeraWulf by 12.9% during the 3rd quarter. Geode Capital Management LLC now owns 7,183,123 shares of the company’s stock valued at $33,623,000 after purchasing an additional 820,354 shares during the period. Finally, Barclays PLC lifted its stake in shares of TeraWulf by 419.7% during the 3rd quarter. Barclays PLC now owns 424,748 shares of the company’s stock valued at $1,989,000 after buying an additional 343,016 shares in the last quarter. 62.49% of the stock is 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.