Geode Capital Management LLC Raises Stock Position in TeraWulf Inc. (NASDAQ:WULF)

Geode Capital Management LLC grew its stake in TeraWulf Inc. (NASDAQ:WULF) by 12.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,183,123 shares of the company’s stock after purchasing an additional 820,354 shares during the quarter. Geode Capital Management LLC owned approximately 1.86% of TeraWulf worth $33,623,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Point72 Asset Management L.P. purchased a new position in TeraWulf in the 2nd quarter valued at about $22,443,000. Hood River Capital Management LLC purchased a new position in shares of TeraWulf in the second quarter valued at approximately $20,532,000. Driehaus Capital Management LLC acquired a new stake in shares of TeraWulf in the second quarter worth approximately $9,948,000. Duquesne Family Office LLC purchased a new stake in shares of TeraWulf during the second quarter worth approximately $9,301,000. Finally, Zweig DiMenna Associates LLC acquired a new position in TeraWulf in the 3rd quarter valued at $9,489,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

TeraWulf Stock Performance

Shares of NASDAQ WULF opened at $6.23 on Thursday. The company has a 50 day simple moving average of $7.03 and a 200-day simple moving average of $5.36. TeraWulf Inc. has a 1 year low of $1.24 and a 1 year high of $9.30.

Analysts Set New Price Targets

WULF has been the topic of several recent research reports. Northland Securities reaffirmed an “outperform” rating and set a $10.00 target price on shares of TeraWulf in a research note on Tuesday. Needham & Company LLC boosted their price target on shares of TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $10.00 price objective on shares of TeraWulf in a research note on Thursday, December 5th. B. Riley raised their target price on shares of TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Stifel Canada lowered TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $8.64.

TeraWulf 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.