Needham & Company LLC Reiterates “Buy” Rating for TeraWulf (NASDAQ:WULF)

TeraWulf (NASDAQ:WULF)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a report issued on Monday,Benzinga reports. They currently have a $9.50 price objective on the stock. Needham & Company LLC’s target price would indicate a potential upside of 70.56% from the company’s current price.

WULF has been the topic of several other research reports. Keefe, Bruyette & Woods started coverage on shares of TeraWulf in a research report on Wednesday, January 8th. They issued a “market perform” rating on the stock. Northland Securities reaffirmed an “outperform” rating and issued a $10.00 price target on shares of TeraWulf in a report on Tuesday, December 24th. Rosenblatt Securities reissued a “buy” rating and set a $10.00 price objective on shares of TeraWulf in a report on Monday. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 target price on shares of TeraWulf in a research report on Monday, January 6th. Finally, Stifel Canada cut TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, TeraWulf presently has a consensus rating of “Buy” and a consensus price target of $8.64.

TeraWulf Trading Up 7.1 %

NASDAQ WULF opened at $5.57 on Monday. The business’s fifty day moving average is $6.88 and its 200-day moving average is $5.52. TeraWulf has a one year low of $1.24 and a one year high of $9.30.

Hedge Funds Weigh In On TeraWulf

Several hedge funds have recently made changes to their positions in WULF. FMR LLC lifted its holdings in TeraWulf by 22.0% during the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after purchasing an additional 1,408 shares in the last quarter. Chesapeake Capital Corp IL increased its position in shares of TeraWulf by 6.6% during the third quarter. Chesapeake Capital Corp IL now owns 27,500 shares of the company’s stock valued at $136,000 after buying an additional 1,700 shares during the period. Amalgamated Bank lifted its holdings in shares of TeraWulf by 57.7% in the second quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock worth $35,000 after buying an additional 2,912 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of TeraWulf by 13.3% in the third quarter. Victory Capital Management Inc. now owns 34,866 shares of the company’s stock valued at $163,000 after acquiring an additional 4,093 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in TeraWulf by 4.5% during the third quarter. JPMorgan Chase & Co. now owns 110,251 shares of the company’s stock valued at $516,000 after acquiring an additional 4,756 shares in the last quarter. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

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.