TeraWulf (NASDAQ:WULF) Shares Down 5.2% – What’s Next?

TeraWulf Inc. (NASDAQ:WULF)’s stock price dropped 5.2% during trading on Wednesday . The company traded as low as $5.73 and last traded at $5.65. Approximately 12,422,944 shares changed hands during trading, a decline of 64% from the average daily volume of 34,936,203 shares. The stock had previously closed at $5.96.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WULF. Atb Cap Markets raised TeraWulf to a “strong-buy” rating in a report on Sunday, January 5th. Keefe, Bruyette & Woods began coverage on shares of TeraWulf in a research note on Wednesday, January 8th. They issued a “market perform” rating for the company. B. Riley lifted their target price on shares of TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Stifel Canada downgraded shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 price objective on shares of TeraWulf in a research report on Monday, January 6th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, TeraWulf has a consensus rating of “Buy” and an average price target of $8.64.

TeraWulf Trading Up 4.9 %

The business has a fifty day moving average price of $6.67 and a 200 day moving average price of $5.55.

Institutional Investors Weigh In On TeraWulf

A number of hedge funds and other institutional investors have recently bought and sold shares of WULF. Charles Schwab Investment Management Inc. grew its holdings in TeraWulf by 258.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock valued at $11,063,000 after purchasing an additional 1,704,013 shares during the period. State Street Corp increased its stake in shares of TeraWulf by 3.8% in the 3rd quarter. State Street Corp now owns 6,283,196 shares of the company’s stock worth $29,405,000 after purchasing an additional 227,186 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of TeraWulf in the 3rd quarter worth $340,000. Barclays PLC increased its stake in shares of TeraWulf by 419.7% in the 3rd quarter. Barclays PLC now owns 424,748 shares of the company’s stock worth $1,989,000 after purchasing an additional 343,016 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of TeraWulf by 43.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 656,520 shares of the company’s stock worth $3,073,000 after purchasing an additional 199,345 shares in the last quarter. 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.