TeraWulf (NASDAQ:WULF) Price Target Raised to $9.50

TeraWulf (NASDAQ:WULF) had its price target boosted by Needham & Company LLC from $6.00 to $9.50 in a research note released on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the company. Northland Securities increased their price target on TeraWulf from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Wednesday. B. Riley reiterated a “buy” rating and set a $6.00 target price on shares of TeraWulf in a research report on Monday, October 7th. Rosenblatt Securities reissued a “buy” rating and issued a $5.00 price target on shares of TeraWulf in a report on Tuesday, October 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of TeraWulf in a report on Thursday, October 3rd. Finally, Stifel Canada cut shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $7.21.

TeraWulf Trading Up 3.4 %

Shares of TeraWulf stock opened at $7.18 on Wednesday. The firm has a 50-day simple moving average of $5.42 and a two-hundred day simple moving average of $4.35. TeraWulf has a fifty-two week low of $1.01 and a fifty-two week high of $9.30.

Institutional Investors Weigh In On TeraWulf

A number of large investors have recently modified their holdings of WULF. Quantbot Technologies LP acquired a new position in TeraWulf during the first quarter worth about $204,000. SG Americas Securities LLC purchased a new stake in shares of TeraWulf in the first quarter valued at approximately $141,000. Vanguard Group Inc. increased its holdings in shares of TeraWulf by 17.7% in the first quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock valued at $30,830,000 after purchasing an additional 1,764,115 shares during the last quarter. PEAK6 Investments LLC purchased a new position in TeraWulf during the first quarter worth approximately $64,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in TeraWulf by 16.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 45,082 shares of the company’s stock worth $119,000 after buying an additional 6,450 shares during the last quarter. Hedge funds and other institutional investors own 62.49% of the company’s stock.

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.