TeraWulf (NASDAQ:WULF) Shares Up 7.7% – Time to Buy?

TeraWulf Inc. (NASDAQ:WULF) shares traded up 7.7% on Thursday . The company traded as high as $5.09 and last traded at $5.09. 32,219,628 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 45,333,492 shares. The stock had previously closed at $4.73.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WULF. Atb Cap Markets upgraded shares of TeraWulf to a “strong-buy” rating in a research report on Sunday, January 5th. Rosenblatt Securities reaffirmed a “buy” rating and set a $10.00 price objective on shares of TeraWulf in a report on Monday, January 13th. B. Riley increased their target price on TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Northland Securities reaffirmed an “outperform” rating and set a $10.00 price target on shares of TeraWulf in a research note on Tuesday, December 24th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $9.50 price objective on shares of TeraWulf in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, TeraWulf presently has an average rating of “Buy” and a consensus price target of $8.64.

TeraWulf Trading Down 4.8 %

The company’s 50-day simple moving average is $6.36 and its two-hundred day simple moving average is $5.55.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Aspect Partners LLC purchased a new stake in TeraWulf in the 3rd quarter worth approximately $26,000. Rosenberg Matthew Hamilton purchased a new stake in TeraWulf in the fourth quarter worth $32,000. FMR LLC lifted its stake 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 acquiring an additional 1,408 shares during the period. KBC Group NV bought a new stake in TeraWulf in the third quarter valued at $39,000. Finally, Hodges Capital Management Inc. purchased a new position in TeraWulf during the 3rd quarter valued at $47,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

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.