TeraWulf’s (WULF) Overweight Rating Reaffirmed at Cantor Fitzgerald

TeraWulf (NASDAQ:WULF)‘s stock had its “overweight” rating reissued by equities research analysts at Cantor Fitzgerald in a research note issued on Monday,Benzinga reports. They currently have a $11.00 target price on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 79.45% from the company’s previous close.

WULF has been the topic of several other research reports. Stifel Canada lowered TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, October 29th. Needham & Company LLC upped their price objective on TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Northland Securities reissued an “outperform” rating and issued a $10.00 target price on shares of TeraWulf in a research note on Tuesday, December 24th. Rosenblatt Securities restated a “buy” rating and set a $10.00 target price on shares of TeraWulf in a report on Thursday, December 5th. Finally, B. Riley increased their price target on shares of TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a research note 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 company’s stock. According to data from MarketBeat, TeraWulf currently has a consensus rating of “Buy” and an average target price of $8.64.

TeraWulf Trading Down 5.7 %

NASDAQ WULF opened at $6.13 on Monday. TeraWulf has a 12-month low of $1.24 and a 12-month high of $9.30. The firm’s 50 day moving average is $6.97 and its 200-day moving average is $5.48.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its position in shares of TeraWulf by 97.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock worth $3,757,000 after purchasing an additional 417,369 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in TeraWulf during the 2nd quarter worth $250,000. Principal Financial Group Inc. raised its holdings in TeraWulf by 75.6% in the 2nd quarter. Principal Financial Group Inc. now owns 30,529 shares of the company’s stock valued at $136,000 after acquiring an additional 13,142 shares in the last quarter. Rhumbline Advisers lifted its position in shares of TeraWulf by 66.8% during the 2nd quarter. Rhumbline Advisers now owns 299,545 shares of the company’s stock valued at $1,333,000 after acquiring an additional 119,911 shares during the period. Finally, Arizona State Retirement System bought a new stake in shares of TeraWulf during the 2nd quarter valued at $282,000. 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.