Cantor Fitzgerald Reaffirms Overweight Rating for TeraWulf (NASDAQ:WULF)

TeraWulf (NASDAQ:WULF - Get Free Report)'s stock had its "overweight" rating restated by stock analysts at Cantor Fitzgerald in a research note issued on Monday,Benzinga reports. They presently have a $11.00 target price on the stock. Cantor Fitzgerald's price objective would indicate a potential upside of 69.23% from the company's previous close.

Several other analysts have also recently commented on the company. Stifel Canada cut TeraWulf from a "strong-buy" rating to a "moderate buy" rating in a report on Tuesday, October 29th. Needham & Company LLC upped their price objective on shares of TeraWulf from $6.00 to $9.50 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Rosenblatt Securities reiterated a "buy" rating and set a $10.00 price objective on shares of TeraWulf in a research report on Thursday, December 5th. Northland Securities restated an "outperform" rating and issued a $10.00 target price on shares of TeraWulf in a report on Tuesday, December 24th. Finally, B. Riley upped their price target on shares of TeraWulf from $8.00 to $10.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $8.64.

TeraWulf Stock Performance

NASDAQ WULF traded up $0.28 on Monday, reaching $6.50. The company had a trading volume of 36,932,555 shares, compared to its average volume of 36,706,773. TeraWulf has a fifty-two week low of $1.24 and a fifty-two week high of $9.30. The business has a 50 day moving average of $6.99 and a two-hundred day moving average of $5.46.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings 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 valued at $11,063,000 after acquiring an additional 1,704,013 shares in the last quarter. State Street Corp increased 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 acquiring an additional 227,186 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of TeraWulf in the 3rd quarter worth about $340,000. Barclays PLC lifted its position in TeraWulf by 419.7% in the 3rd quarter. Barclays PLC now owns 424,748 shares of the company's stock valued at $1,989,000 after acquiring an additional 343,016 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in TeraWulf by 97.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company's stock valued at $3,757,000 after purchasing an additional 417,369 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.