TeraWulf (NASDAQ:WULF) Earns Buy Rating from Needham & Company LLC

TeraWulf (NASDAQ:WULF - Get Free Report)'s stock had its "buy" rating reaffirmed by Needham & Company LLC in a research note issued on Monday,Benzinga reports. They presently have a $9.50 target price on the stock. Needham & Company LLC's price objective would indicate a potential upside of 82.69% from the company's current price.

Several other equities research analysts have also weighed in on the company. Atb Cap Markets raised TeraWulf to a "strong-buy" rating in a report on Sunday, January 5th. Cantor Fitzgerald reissued an "overweight" rating and issued a $11.00 price target on shares of TeraWulf in a report on Monday, January 6th. Stifel Canada downgraded TeraWulf from a "strong-buy" rating to a "moderate buy" rating in a research report on Tuesday, October 29th. Northland Securities restated an "outperform" rating and set a $10.00 target price on shares of TeraWulf in a research report on Tuesday, December 24th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $10.00 price target on shares of TeraWulf in a report on Monday. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $8.64.

TeraWulf Price Performance

TeraWulf stock traded down $0.20 during trading on Monday, hitting $5.20. The stock had a trading volume of 30,026,542 shares, compared to its average volume of 33,179,809. The stock's 50 day moving average is $6.89 and its two-hundred day moving average is $5.51. TeraWulf has a 1 year low of $1.24 and a 1 year high of $9.30.

Institutional Investors Weigh In On TeraWulf

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of TeraWulf by 12.9% during the 3rd 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 stake in TeraWulf by 3.8% during the third 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 stake in TeraWulf during the second quarter valued at approximately $22,443,000. Hood River Capital Management LLC purchased a new position in TeraWulf during the second quarter worth $20,532,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in TeraWulf by 258.2% during the 3rd 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 last quarter. Institutional investors 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.