TeraWulf (NASDAQ:WULF) Stock Price Down 5.1%

TeraWulf Inc. (NASDAQ:WULF)’s stock price dropped 5.1% on Thursday . The stock traded as low as $2.03 and last traded at $2.05. Approximately 2,460,520 shares were traded during trading, a decline of 87% from the average daily volume of 18,251,773 shares. The stock had previously closed at $2.16.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on WULF shares. B. Riley cut their price target on TeraWulf from $4.00 to $3.00 and set a “buy” rating for the company in a report on Friday, April 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $4.00 price target on shares of TeraWulf in a report on Thursday, March 28th. Rosenblatt Securities started coverage on shares of TeraWulf in a report on Tuesday, April 9th. They set a “buy” rating and a $4.20 price objective on the stock. Finally, Compass Point decreased their target price on TeraWulf from $4.50 to $3.50 and set a “buy” rating on the stock in a research report on Thursday, March 21st. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $3.66.

TeraWulf Stock Down 7.9 %

The firm has a 50 day moving average price of $2.24 and a two-hundred day moving average price of $1.93.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of TeraWulf by 17.7% in the first quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock valued at $30,830,000 after buying an additional 1,764,115 shares in the last quarter. Van ECK Associates Corp boosted its position in TeraWulf by 50.8% in the 1st quarter. Van ECK Associates Corp now owns 6,733,179 shares of the company’s stock valued at $17,708,000 after buying an additional 2,268,870 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of TeraWulf by 126.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,457,169 shares of the company’s stock valued at $5,897,000 after buying an additional 1,372,195 shares during the period. Exchange Traded Concepts LLC raised its position in shares of TeraWulf by 37.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,672,844 shares of the company’s stock worth $4,015,000 after acquiring an additional 459,997 shares during the last quarter. Finally, GM Advisory Group LLC lifted its stake in shares of TeraWulf by 3.3% during the fourth quarter. GM Advisory Group LLC now owns 1,237,912 shares of the company’s stock valued at $2,971,000 after acquiring an additional 39,617 shares during the period. 62.49% of the stock is currently owned by institutional investors and hedge funds.

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.