TeraWulf (NASDAQ:WULF) Shares Down 8.7% – Here’s What Happened

TeraWulf Inc. (NASDAQ:WULF)’s share price fell 8.7% during trading on Tuesday . The stock traded as low as $3.69 and last traded at $3.61. 6,085,324 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 41,931,266 shares. The stock had previously closed at $3.95.

Analyst Ratings Changes

A number of brokerages recently issued reports on WULF. Cantor Fitzgerald reissued an “overweight” rating and set a $11.00 price objective on shares of TeraWulf in a research report on Monday, January 6th. Keefe, Bruyette & Woods assumed coverage on shares of TeraWulf in a research report on Wednesday, January 8th. They set a “market perform” rating for the company. Atb Cap Markets raised shares of TeraWulf to a “strong-buy” rating in a research note on Sunday, January 5th. Stifel Canada cut shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. Finally, Northland Securities reiterated an “outperform” rating and issued a $10.00 target price on shares of TeraWulf in a report on Tuesday, December 24th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, TeraWulf currently has a consensus rating of “Buy” and an average price target of $8.64.

TeraWulf Trading Down 8.7 %

The firm’s 50 day moving average is $5.52 and its two-hundred day moving average is $5.58.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WULF. Rosenberg Matthew Hamilton purchased a new stake in TeraWulf during the 4th quarter worth about $32,000. FMR LLC grew its position in shares of TeraWulf by 22.0% during the third quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after buying an additional 1,408 shares in the last quarter. KBC Group NV purchased a new stake in shares of TeraWulf during the third quarter worth approximately $39,000. CoreCap Advisors LLC raised its holdings in TeraWulf by 67.9% in the fourth quarter. CoreCap Advisors LLC now owns 7,554 shares of the company’s stock valued at $43,000 after acquiring an additional 3,054 shares in the last quarter. Finally, Hodges Capital Management Inc. purchased a new position in TeraWulf in the third quarter worth approximately $47,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

About TeraWulf

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.