TeraWulf Inc. (NASDAQ:WULF) Short Interest Update

TeraWulf Inc. (NASDAQ:WULF) was the target of a large increase in short interest during 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. Currently, 21.0% of the company’s shares are short sold. Based on an average daily volume of 23,550,000 shares, the short-interest ratio is currently 2.5 days.

TeraWulf Price Performance

NASDAQ WULF opened at $7.18 on Friday. The firm has a 50 day simple moving average of $5.49 and a 200-day simple moving average of $4.40. TeraWulf has a one year low of $1.01 and a one year high of $9.30.

Institutional Investors Weigh In On TeraWulf

A number of hedge funds have recently added to or reduced their stakes in WULF. Point72 Asset Management L.P. acquired a new position in shares of TeraWulf in the second quarter worth $22,443,000. Hood River Capital Management LLC purchased a new position in TeraWulf in the second quarter valued at $20,532,000. Driehaus Capital Management LLC acquired a new position in TeraWulf during the 2nd quarter worth $9,948,000. Duquesne Family Office LLC purchased a new stake in TeraWulf during the 2nd quarter worth about $9,301,000. Finally, Zweig DiMenna Associates LLC purchased a new stake in TeraWulf during the 3rd quarter worth about $9,489,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WULF. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of TeraWulf in a research report on Thursday, October 3rd. Northland Securities increased their target price on shares of TeraWulf from $8.00 to $10.00 and gave the stock an “outperform” rating in a research note on Wednesday. Needham & Company LLC boosted their price target on shares of TeraWulf from $6.00 to $9.50 and gave the company a “buy” rating in a research note on Wednesday. B. Riley reaffirmed a “buy” rating and set a $6.00 price objective on shares of TeraWulf in a research report on Monday, October 7th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $5.00 target price on shares of TeraWulf in a report on Tuesday, October 8th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $7.21.

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.