TeraWulf (NASDAQ:WULF) Coverage Initiated at Keefe, Bruyette & Woods

Equities research analysts at Keefe, Bruyette & Woods initiated coverage on shares of TeraWulf (NASDAQ:WULF - Get Free Report) in a note issued to investors on Wednesday, Marketbeat Ratings reports. The firm set a "market perform" rating on the stock.

Other research analysts have also recently issued research reports about the company. Atb Cap Markets upgraded TeraWulf to a "strong-buy" rating in a report on Sunday. Stifel Canada lowered TeraWulf from a "strong-buy" rating to a "moderate buy" rating in a research note on Tuesday, October 29th. Rosenblatt Securities reiterated a "buy" rating and set a $10.00 target price on shares of TeraWulf in a report on Thursday, December 5th. Cantor Fitzgerald restated an "overweight" rating and issued a $11.00 price target on shares of TeraWulf in a report on Monday. Finally, B. Riley boosted their price objective on shares of TeraWulf from $8.00 to $10.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, TeraWulf has a consensus rating of "Buy" and a consensus price target of $8.64.

TeraWulf Stock Performance

NASDAQ:WULF traded down $0.62 during trading hours on Wednesday, reaching $5.51. 35,061,762 shares of the company were exchanged, compared to its average volume of 35,281,984. The stock has a 50 day simple moving average of $6.97 and a 200 day simple moving average of $5.48. TeraWulf has a 52-week low of $1.24 and a 52-week high of $9.30.

Institutional Trading of TeraWulf

Several large investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in TeraWulf by 12.9% in the third quarter. Geode Capital Management LLC now owns 7,183,123 shares of the company's stock valued at $33,623,000 after purchasing an additional 820,354 shares during the last quarter. State Street Corp raised its position 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 valued at $29,405,000 after purchasing an additional 227,186 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of TeraWulf during the 2nd quarter valued at approximately $22,443,000. Hood River Capital Management LLC acquired a new stake in shares of TeraWulf during the second quarter worth approximately $20,532,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of TeraWulf by 258.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company's stock worth $11,063,000 after buying an additional 1,704,013 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.