TeraWulf (NASDAQ:WULF) Upgraded by Atb Cap Markets to "Strong-Buy" Rating

Atb Cap Markets upgraded shares of TeraWulf (NASDAQ:WULF - Free Report) to a strong-buy rating in a report published on Sunday,Zacks.com reports.

A number of other equities analysts have also recently commented on WULF. Rosenblatt Securities reissued a "buy" rating and set a $10.00 target price on shares of TeraWulf in a report on Thursday, December 5th. Cantor Fitzgerald reissued an "overweight" rating and set a $11.00 target price on shares of TeraWulf in a report on Monday. B. Riley increased their target price on TeraWulf from $8.00 to $10.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Needham & Company LLC increased their price target on TeraWulf from $6.00 to $9.50 and gave the company a "buy" rating in a report on Wednesday, November 13th. Finally, Northland Securities reaffirmed an "outperform" rating and issued a $10.00 price target on shares of TeraWulf in a report on Tuesday, December 24th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $8.64.

TeraWulf Stock Performance

NASDAQ WULF traded down $0.37 during trading hours on Friday, reaching $6.13. The company's stock had a trading volume of 31,141,925 shares, compared to its average volume of 35,329,363. TeraWulf has a 1-year low of $1.24 and a 1-year high of $9.30. The company's 50-day moving average is $6.98 and its two-hundred day moving average is $5.47.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted 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 during the period. State Street Corp boosted its position in shares of TeraWulf by 3.8% during the third quarter. State Street Corp now owns 6,283,196 shares of the company's stock worth $29,405,000 after buying an additional 227,186 shares during the period. Intech Investment Management LLC purchased a new position in shares of TeraWulf during the third quarter worth $340,000. Barclays PLC boosted its position in shares of TeraWulf by 419.7% during the third quarter. Barclays PLC now owns 424,748 shares of the company's stock worth $1,989,000 after buying an additional 343,016 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of TeraWulf by 97.8% in the second quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company's stock valued at $3,757,000 after acquiring an additional 417,369 shares in the last quarter. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

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.