Analysts Set TeraWulf Inc. (NASDAQ:WULF) Price Target at $8.07

TeraWulf Inc. (NASDAQ:WULF) has been given a consensus rating of “Buy” by the eight research firms that are currently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $8.64.

Several research firms recently commented on WULF. Needham & Company LLC upped their price objective on TeraWulf from $6.00 to $9.50 and gave the company a “buy” rating in a research note on Wednesday, November 13th. B. Riley lifted their price objective on TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday. Rosenblatt Securities reaffirmed a “buy” rating and set a $10.00 price objective on shares of TeraWulf in a report on Thursday, December 5th. Northland Securities upped their price target on shares of TeraWulf from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $11.00 target price on shares of TeraWulf in a research report on Wednesday, December 4th.

Hedge Funds Weigh In On TeraWulf

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. boosted its holdings in shares of TeraWulf by 10.4% in the 3rd quarter. Franklin Resources Inc. now owns 686,219 shares of the company’s stock worth $3,081,000 after purchasing an additional 64,634 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of TeraWulf by 1,389.8% in the 3rd quarter. Tidal Investments LLC now owns 868,692 shares of the company’s stock worth $4,065,000 after acquiring an additional 810,382 shares during the last quarter. Virtu Financial LLC purchased a new position in TeraWulf in the 3rd quarter worth $434,000. Geode Capital Management LLC boosted its position in TeraWulf by 12.9% during the third quarter. Geode Capital Management LLC now owns 7,183,123 shares of the company’s stock valued at $33,623,000 after buying an additional 820,354 shares during the period. Finally, Barclays PLC increased its holdings in shares of TeraWulf by 419.7% in the third quarter. Barclays PLC now owns 424,748 shares of the company’s stock worth $1,989,000 after buying an additional 343,016 shares during the period. Hedge funds and other institutional investors own 62.49% of the company’s stock.

TeraWulf Price Performance

TeraWulf stock opened at $6.61 on Thursday. TeraWulf has a 52 week low of $1.24 and a 52 week high of $9.30. The company’s 50 day moving average price is $6.95 and its two-hundred day moving average price is $5.28.

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.