TeraWulf (NASDAQ:WULF) Coverage Initiated at Keefe, Bruyette & Woods

Equities researchers at Keefe, Bruyette & Woods initiated coverage on shares of TeraWulf (NASDAQ:WULF) in a research note issued on Wednesday, MarketBeat.com reports. The brokerage set a “market perform” rating on the stock.

Several other brokerages also recently commented on WULF. Northland Securities restated an “outperform” rating and set a $10.00 target price on shares of TeraWulf in a report on Tuesday, December 24th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $10.00 target price on shares of TeraWulf in a research note on Thursday, December 5th. Atb Cap Markets upgraded TeraWulf to a “strong-buy” rating in a report on Sunday, January 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 price target on shares of TeraWulf in a report on Monday. Finally, B. Riley increased their price objective on TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $8.64.

TeraWulf Price Performance

NASDAQ:WULF opened at $5.51 on Wednesday. The stock has a 50-day moving average price of $6.92 and a two-hundred day moving average price of $5.48. TeraWulf has a 1 year low of $1.24 and a 1 year high of $9.30.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of WULF. Geode Capital Management LLC raised its stake in shares of TeraWulf by 12.9% during 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. State Street Corp raised its position in TeraWulf by 3.8% during the third quarter. State Street Corp now owns 6,283,196 shares of the company’s stock worth $29,405,000 after acquiring an additional 227,186 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in TeraWulf in the second quarter valued at $22,443,000. Hood River Capital Management LLC bought a new position in shares of TeraWulf in the 2nd quarter valued at about $20,532,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of TeraWulf by 258.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock worth $11,063,000 after purchasing an additional 1,704,013 shares during the last quarter. 62.49% of the stock is currently owned by 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.