TeraWulf (NASDAQ:WULF) Shares Up 7% – Here’s What Happened

TeraWulf Inc. (NASDAQ:WULF)’s share price traded up 7% on Friday . The stock traded as high as $8.31 and last traded at $8.25. 3,161,403 shares traded hands during trading, a decline of 85% from the average session volume of 21,248,727 shares. The stock had previously closed at $7.71.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. B. Riley reaffirmed a “buy” rating and issued a $6.00 target price on shares of TeraWulf in a research note on Monday, October 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 price objective on shares of TeraWulf in a research report on Wednesday. Needham & Company LLC lifted their target price on TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Stifel Canada downgraded TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, October 29th. Finally, Northland Securities raised their price target on TeraWulf from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $8.07.

TeraWulf Stock Up 5.3 %

The business has a fifty day moving average price of $6.35 and a 200 day moving average price of $4.92.

Institutional Investors Weigh In On TeraWulf

Several institutional investors have recently bought and sold shares of WULF. FMR LLC raised its holdings in shares of TeraWulf by 22.0% in the third quarter. FMR LLC now owns 7,803 shares of the company’s stock valued at $37,000 after purchasing an additional 1,408 shares during the last quarter. Chesapeake Capital Corp IL grew its position in TeraWulf by 6.6% in the third quarter. Chesapeake Capital Corp IL now owns 27,500 shares of the company’s stock valued at $136,000 after purchasing an additional 1,700 shares in the last quarter. Amalgamated Bank increased its stake in TeraWulf by 57.7% in the 2nd 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. Victory Capital Management Inc. increased its stake in TeraWulf by 13.3% in the 3rd quarter. Victory Capital Management Inc. now owns 34,866 shares of the company’s stock valued at $163,000 after buying an additional 4,093 shares during the last quarter. Finally, Aspect Partners LLC bought a new stake in TeraWulf during the 3rd quarter worth about $26,000. 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.