Analysts Set TeraWulf Inc. (NASDAQ:WULF) PT at $8.07

Shares of TeraWulf Inc. (NASDAQ:WULF) have earned an average recommendation of “Buy” from the eight brokerages that are covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $8.64.

WULF has been the topic of a number of recent research reports. Needham & Company LLC increased their price objective on TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Northland Securities increased their price target on shares of TeraWulf from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Stifel Canada cut shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. B. Riley increased their target price on shares of TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $10.00 price target on shares of TeraWulf in a report on Thursday, December 5th.

TeraWulf Stock Performance

NASDAQ:WULF opened at $5.81 on Thursday. TeraWulf has a 1 year low of $1.24 and a 1 year high of $9.30. The stock’s fifty day moving average price is $6.95 and its two-hundred day moving average price is $5.32.

Hedge Funds Weigh In On TeraWulf

A number of institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. lifted its holdings in shares of TeraWulf by 10.4% during the 3rd quarter. Franklin Resources Inc. now owns 686,219 shares of the company’s stock worth $3,081,000 after acquiring an additional 64,634 shares during the last quarter. Tidal Investments LLC raised its position in TeraWulf by 1,389.8% during the third quarter. Tidal Investments LLC now owns 868,692 shares of the company’s stock valued at $4,065,000 after purchasing an additional 810,382 shares in the last quarter. Virtu Financial LLC bought a new stake in TeraWulf during the third quarter worth about $434,000. Geode Capital Management LLC boosted its holdings in shares of TeraWulf by 12.9% in the 3rd quarter. Geode Capital Management LLC now owns 7,183,123 shares of the company’s stock worth $33,623,000 after purchasing an additional 820,354 shares in the last quarter. Finally, Barclays PLC increased its position in shares of TeraWulf by 419.7% during the 3rd quarter. Barclays PLC now owns 424,748 shares of the company’s stock valued at $1,989,000 after purchasing an additional 343,016 shares during the last quarter. 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.