TeraWulf (NASDAQ:WULF) Trading Up 11.4%

TeraWulf Inc. (NASDAQ:WULF) rose 11.4% on Monday . The company traded as high as $2.44 and last traded at $2.44. Approximately 5,465,933 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 19,073,865 shares. The stock had previously closed at $2.19.

Analysts Set New Price Targets

WULF has been the topic of a number of research analyst reports. Compass Point cut their target price on TeraWulf from $4.50 to $3.50 and set a “buy” rating on the stock in a research note on Thursday, March 21st. B. Riley dropped their price objective on TeraWulf from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Rosenblatt Securities initiated coverage on TeraWulf in a research report on Tuesday, April 9th. They set a “buy” rating and a $4.20 target price on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $4.00 target price on shares of TeraWulf in a research report on Thursday, March 28th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, TeraWulf presently has a consensus rating of “Buy” and a consensus price target of $3.66.

TeraWulf Price Performance

The firm’s fifty day moving average price is $2.18 and its two-hundred day moving average price is $1.85.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in TeraWulf during the third quarter worth about $76,000. Raymond James & Associates purchased a new position in TeraWulf during the 3rd quarter valued at about $204,000. Bank of New York Mellon Corp increased its holdings in TeraWulf by 95.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 416,006 shares of the company’s stock valued at $524,000 after purchasing an additional 203,584 shares during the period. Arizona State Retirement System purchased a new position in shares of TeraWulf during the 3rd quarter worth approximately $38,000. Finally, Swiss National Bank purchased a new position in shares of TeraWulf during the 3rd quarter worth approximately $294,000. 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.