TeraWulf (NASDAQ:WULF) Trading Up 9.3%

TeraWulf Inc. (NASDAQ:WULF)’s stock price shot up 9.3% during mid-day trading on Wednesday . The company traded as high as $2.69 and last traded at $2.69. 10,587,047 shares were traded during mid-day trading, a decline of 49% from the average session volume of 20,847,094 shares. The stock had previously closed at $2.46.

Analysts Set New Price Targets

WULF has been the topic of several recent research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $4.00 price objective on shares of TeraWulf in a research report on Thursday. Compass Point lowered their price target on shares of TeraWulf from $4.50 to $3.50 and set a “buy” rating on the stock in a report on Thursday, March 21st. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $3.75.

TeraWulf Price Performance

The stock has a 50-day moving average price of $2.00 and a 200 day moving average price of $1.66.

Institutional Investors Weigh In On TeraWulf

A number of large investors have recently modified their holdings of the business. Platform Technology Partners purchased a new stake in shares of TeraWulf in the third quarter valued at approximately $416,000. Quadrature Capital Ltd acquired a new stake in shares of TeraWulf during the 3rd quarter worth approximately $144,000. Swiss National Bank acquired a new stake in TeraWulf during the third quarter worth $294,000. Van ECK Associates Corp grew its holdings in shares of TeraWulf by 3.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,434,668 shares of the company’s stock worth $3,068,000 after purchasing an additional 70,110 shares during the period. Finally, Vontobel Holding Ltd. increased its position in shares of TeraWulf by 256.2% during the 3rd quarter. Vontobel Holding Ltd. now owns 84,653 shares of the company’s stock worth $107,000 after purchasing an additional 60,888 shares during the last quarter. Hedge funds and other institutional investors 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.