TeraWulf (NASDAQ:WULF) Raised to Strong-Buy at Atb Cap Markets

Atb Cap Markets upgraded shares of TeraWulf (NASDAQ:WULF) to a strong-buy rating in a research report report published on Sunday,Zacks.com reports.

Several other analysts have also recently weighed in on the stock. Needham & Company LLC lifted their price objective on shares of TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Northland Securities reaffirmed an “outperform” rating and issued a $10.00 price objective on shares of TeraWulf in a research note on Tuesday, December 24th. Stifel Canada downgraded shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 price target on shares of TeraWulf in a research report on Monday. Finally, B. Riley upped their target price on TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, TeraWulf presently has a consensus rating of “Buy” and an average target price of $8.64.

TeraWulf Stock Performance

WULF traded down $0.18 during trading on Friday, hitting $6.32. The stock had a trading volume of 3,668,387 shares, compared to its average volume of 28,192,348. The company has a 50 day moving average price of $6.98 and a 200-day moving average price of $5.47. TeraWulf has a one year low of $1.24 and a one year high of $9.30.

Institutional Trading of TeraWulf

Several institutional investors and hedge funds have recently modified their holdings of WULF. Bank of New York Mellon Corp raised its position in TeraWulf by 97.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock valued at $3,757,000 after buying an additional 417,369 shares during the last quarter. Principal Financial Group Inc. boosted its position in TeraWulf by 75.6% in the second quarter. Principal Financial Group Inc. now owns 30,529 shares of the company’s stock worth $136,000 after purchasing an additional 13,142 shares during the last quarter. Rhumbline Advisers raised its position in TeraWulf by 66.8% in the second quarter. Rhumbline Advisers now owns 299,545 shares of the company’s stock worth $1,333,000 after acquiring an additional 119,911 shares during the period. Arizona State Retirement System purchased a new position in shares of TeraWulf in the second quarter worth about $282,000. Finally, Cowen AND Company LLC bought a new position in TeraWulf in the 2nd quarter worth about $89,000. 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.