TeraWulf Inc. (NASDAQ:WULF) Short Interest Up 38.2% in August

TeraWulf Inc. (NASDAQ:WULF) saw a large growth in short interest in August. As of August 15th, there was short interest totalling 44,540,000 shares, a growth of 38.2% from the July 31st total of 32,220,000 shares. Based on an average daily volume of 23,150,000 shares, the short-interest ratio is currently 1.9 days. Approximately 16.1% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

WULF has been the topic of a number of recent analyst reports. Roth Capital raised TeraWulf to a “strong-buy” rating in a research note on Tuesday, July 2nd. Rosenblatt Securities raised 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. B. Riley reissued a “buy” rating and issued a $6.00 price objective on shares of TeraWulf in a research note on Monday. Roth Mkm reissued a “buy” rating and issued a $6.50 price objective on shares of TeraWulf in a research note on Monday, July 8th. Finally, Cantor Fitzgerald raised their target price on TeraWulf from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Friday, July 5th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $5.67.

Insider Transactions at TeraWulf

In other news, Treasurer Kenneth J. Deane sold 69,996 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $3.25, for a total transaction of $227,487.00. Following the completion of the sale, the treasurer now directly owns 337,245 shares of the company’s stock, valued at approximately $1,096,046.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 24.88% of the company’s stock.

Institutional Trading of TeraWulf

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Apollon Wealth Management LLC acquired a new stake in shares of TeraWulf during the 4th quarter worth approximately $27,000. Miracle Mile Advisors LLC acquired a new stake in shares of TeraWulf during the 1st quarter worth approximately $29,000. Partners Capital Investment Group LLP acquired a new stake in shares of TeraWulf during the 4th quarter worth approximately $29,000. Amalgamated Bank grew its holdings in shares of TeraWulf by 57.7% during the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock worth $35,000 after purchasing an additional 2,912 shares in the last quarter. Finally, Financial Advocates Investment Management acquired a new stake in shares of TeraWulf during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

TeraWulf Stock Down 7.3 %

WULF opened at $4.18 on Thursday. The stock’s 50 day moving average price is $4.61 and its two-hundred day moving average price is $3.16. TeraWulf has a 12-month low of $0.89 and a 12-month high of $6.51.

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.