TeraWulf (NASDAQ:WULF) Receives Buy Rating from B. Riley

B. Riley reiterated their buy rating on shares of TeraWulf (NASDAQ:WULF) in a report issued on Monday morning, Benzinga reports. They currently have a $6.00 price objective on the stock.

Other equities research analysts also recently issued reports about the company. Roth Mkm restated a buy rating and set a $6.50 price target on shares of TeraWulf in a research note on Monday, July 8th. Rosenblatt Securities boosted their price objective on TeraWulf from $4.20 to $5.00 and gave the company a buy rating in a research note on Wednesday, August 14th. Roth Capital upgraded TeraWulf to a strong-buy rating in a research note on Tuesday, July 2nd. Finally, Cantor Fitzgerald boosted their price objective on TeraWulf from $9.00 to $10.00 and gave the company an overweight rating in a research note on Friday, July 5th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of $5.67.

TeraWulf Stock Performance

TeraWulf stock opened at $4.78 on Monday. The business has a 50-day simple moving average of $4.61 and a two-hundred day simple moving average of $3.11. TeraWulf has a 52-week low of $0.89 and a 52-week high of $6.51.

Insiders Place Their Bets

In other TeraWulf news, Treasurer Kenneth J. Deane sold 69,996 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $3.25, for a total value of $227,487.00. Following the completion of the transaction, the treasurer now directly owns 337,245 shares in the company, valued at approximately $1,096,046.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 24.88% of the stock is currently owned by corporate insiders.

Institutional Trading of TeraWulf

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of TeraWulf by 17.7% during the 1st quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock valued at $30,830,000 after acquiring an additional 1,764,115 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of TeraWulf by 260.8% during the 2nd quarter. SG Americas Securities LLC now owns 193,304 shares of the company’s stock valued at $860,000 after acquiring an additional 139,722 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of TeraWulf by 20.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 457,175 shares of the company’s stock valued at $2,034,000 after acquiring an additional 76,714 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of TeraWulf during the 1st quarter valued at approximately $204,000. Finally, PEAK6 Investments LLC bought a new position in shares of TeraWulf during the 1st quarter valued at approximately $64,000. 62.49% of the stock is owned by hedge funds and other institutional investors.

TeraWulf Company 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.