TeraWulf (NASDAQ:WULF) Stock Price Up 8.5%

TeraWulf Inc. (NASDAQ:WULF) shares shot up 8.5% during mid-day trading on Thursday . The company traded as high as $2.93 and last traded at $2.93. 13,597,104 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 20,930,709 shares. The stock had previously closed at $2.70.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on WULF shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $4.00 target price on shares of TeraWulf in a research report on Thursday. Compass Point lowered their target price on shares of TeraWulf from $4.50 to $3.50 and set a “buy” rating for the company in a report on Thursday, March 21st. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $3.75.

TeraWulf Stock Down 2.6 %

The business’s fifty day moving average is $1.98 and its 200-day moving average is $1.65.

Hedge Funds Weigh In On TeraWulf

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of TeraWulf by 5,028.0% during the 1st quarter. Vanguard Group Inc. now owns 2,248,383 shares of the company’s stock valued at $18,886,000 after buying an additional 2,204,538 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of TeraWulf by 83.4% in the fourth quarter. Van ECK Associates Corp now owns 4,464,309 shares of the company’s stock worth $10,714,000 after purchasing an additional 2,029,641 shares in the last quarter. BlackRock Inc. raised its position in shares of TeraWulf by 107.0% during the 1st quarter. BlackRock Inc. now owns 3,603,712 shares of the company’s stock valued at $3,380,000 after purchasing an additional 1,863,027 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of TeraWulf by 126.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,457,169 shares of the company’s stock valued at $5,897,000 after buying an additional 1,372,195 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in TeraWulf by 295.2% in the 1st quarter. Geode Capital Management LLC now owns 1,513,649 shares of the company’s stock worth $1,420,000 after buying an additional 1,130,659 shares during the period. 62.49% of the stock is currently owned by hedge funds and other 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.