TeraWulf Inc. (NASDAQ:WULF) Short Interest Up 24.7% in October

TeraWulf Inc. (NASDAQ:WULF) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 59,470,000 shares, an increase of 24.7% from the October 15th total of 47,700,000 shares. Based on an average daily trading volume, of 23,550,000 shares, the short-interest ratio is currently 2.5 days. Currently, 21.0% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of brokerages have recently commented on WULF. Stifel Canada lowered 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 $10.00 target price on shares of TeraWulf in a research report on Thursday, October 3rd. Needham & Company LLC increased their price target on TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a research report on Wednesday. Northland Securities lifted their price objective on TeraWulf from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, B. Riley reiterated a “buy” rating and set a $6.00 target price on shares of TeraWulf in a report on Monday, October 7th. Seven equities research 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 an average rating of “Buy” and an average price target of $7.21.

TeraWulf Price Performance

WULF stock opened at $7.18 on Friday. TeraWulf has a one year low of $1.01 and a one year high of $9.30. The firm has a 50-day simple moving average of $5.49 and a two-hundred day simple moving average of $4.38.

Institutional Investors Weigh In On TeraWulf

Several institutional investors have recently bought and sold shares of the company. Aspect Partners LLC purchased a new stake in shares of TeraWulf during the 3rd quarter valued at $26,000. FMR LLC increased its position in TeraWulf by 22.0% during the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock valued at $37,000 after buying an additional 1,408 shares in the last quarter. Amalgamated Bank raised its stake 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 buying an additional 2,912 shares during the last quarter. KBC Group NV acquired a new stake in TeraWulf in the third quarter worth about $39,000. Finally, ARS Investment Partners LLC purchased a new stake in shares of TeraWulf during the second quarter worth about $44,000. 62.49% of the stock is currently 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.