TeraWulf (NASDAQ:WULF) Trading 5.5% Higher - Here's Why

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) shares traded up 5.5% during mid-day trading on Friday . The stock traded as high as $5.78 and last traded at $5.76. 2,182,676 shares were traded during trading, a decline of 89% from the average session volume of 20,711,676 shares. The stock had previously closed at $5.46.

Analyst Ratings Changes

Several research analysts have recently commented on WULF shares. Northland Securities restated an "outperform" rating and issued a $10.00 price objective on shares of TeraWulf in a report on Tuesday, December 24th. Stifel Canada cut shares of TeraWulf from a "strong-buy" rating to a "moderate buy" rating in a research report on Tuesday, October 29th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $11.00 price objective on shares of TeraWulf in a research report on Wednesday, December 4th. Needham & Company LLC lifted their target price on TeraWulf from $6.00 to $9.50 and gave the company a "buy" rating in a report on Wednesday, November 13th. Finally, B. Riley upped their price target on TeraWulf from $8.00 to $10.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, TeraWulf currently has a consensus rating of "Buy" and an average price target of $8.64.

TeraWulf Trading Up 13.9 %

The stock has a fifty day simple moving average of $6.99 and a 200-day simple moving average of $5.43.

Hedge Funds Weigh In On TeraWulf

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its position in shares of TeraWulf by 22.0% during the 3rd quarter. FMR LLC now owns 7,803 shares of the company's stock worth $37,000 after buying an additional 1,408 shares during the last quarter. Chesapeake Capital Corp IL raised its stake in TeraWulf by 6.6% during the 3rd quarter. Chesapeake Capital Corp IL now owns 27,500 shares of the company's stock worth $136,000 after acquiring an additional 1,700 shares in the last quarter. Amalgamated Bank lifted its position in TeraWulf by 57.7% in the second quarter. Amalgamated Bank now owns 7,963 shares of the company's stock valued at $35,000 after acquiring an additional 2,912 shares during the last quarter. Victory Capital Management Inc. boosted its stake in TeraWulf by 13.3% in the third quarter. Victory Capital Management Inc. now owns 34,866 shares of the company's stock valued at $163,000 after acquiring an additional 4,093 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of TeraWulf by 4.5% during the third quarter. JPMorgan Chase & Co. now owns 110,251 shares of the company's stock worth $516,000 after purchasing an additional 4,756 shares during the last quarter. 62.49% of the stock is owned by institutional investors and hedge funds.

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.