TeraWulf (NASDAQ:WULF) Trading Down 2.3%

TeraWulf Inc. (NASDAQ:WULF) traded down 2.3% during mid-day trading on Tuesday . The company traded as low as $2.42 and last traded at $2.51. 7,669,003 shares were traded during mid-day trading, a decline of 63% from the average session volume of 20,844,775 shares. The stock had previously closed at $2.57.

Analyst Ratings Changes

Several research firms have commented on WULF. Cantor Fitzgerald restated an “overweight” rating and issued a $4.00 price target on shares of TeraWulf in a research note on Wednesday, March 20th. Compass Point dropped their price target on shares of TeraWulf from $4.50 to $3.50 and set a “buy” rating for the company in a research note on Thursday, March 21st. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $3.75.

TeraWulf Stock Performance

The business’s 50 day moving average is $1.98 and its 200 day moving average is $1.65.

Hedge Funds Weigh In On TeraWulf

A number of institutional investors and hedge funds have recently modified their holdings of WULF. Advisor Group Holdings Inc. boosted its stake in TeraWulf by 2,542.9% in the first quarter. Advisor Group Holdings Inc. now owns 3,700 shares of the company’s stock valued at $31,000 after acquiring an additional 3,560 shares in the last quarter. HighTower Advisors LLC boosted its stake in TeraWulf by 7.0% in the first quarter. HighTower Advisors LLC now owns 73,905 shares of the company’s stock valued at $621,000 after acquiring an additional 4,867 shares in the last quarter. American International Group Inc. boosted its stake in TeraWulf by 8.8% in the fourth quarter. American International Group Inc. now owns 73,588 shares of the company’s stock valued at $177,000 after acquiring an additional 5,952 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in TeraWulf by 3.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 165,756 shares of the company’s stock valued at $290,000 after acquiring an additional 6,040 shares in the last quarter. Finally, Gotham Asset Management LLC boosted its stake in TeraWulf by 58.0% in the fourth quarter. Gotham Asset Management LLC now owns 17,969 shares of the company’s stock valued at $43,000 after acquiring an additional 6,593 shares in the last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.

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.