TeraWulf’s (WULF) Buy Rating Reiterated at Needham & Company LLC

TeraWulf (NASDAQ:WULF)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research report issued on Monday,Benzinga reports. They presently have a $9.50 price target on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 75.93% from the stock’s previous close.

Several other analysts have also recently commented on WULF. Keefe, Bruyette & Woods started coverage on shares of TeraWulf in a report on Wednesday, January 8th. They set a “market perform” rating for the company. Rosenblatt Securities restated a “buy” rating and set a $10.00 price target on shares of TeraWulf in a report on Monday. Northland Securities restated an “outperform” rating and set a $10.00 price target on shares of TeraWulf in a report on Tuesday, December 24th. Cantor Fitzgerald restated an “overweight” rating and set a $11.00 price target on shares of TeraWulf in a report on Monday, January 6th. Finally, Stifel Canada cut shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, TeraWulf has a consensus rating of “Buy” and a consensus price target of $8.64.

TeraWulf Trading Down 2.0 %

Shares of WULF opened at $5.40 on Monday. TeraWulf has a one year low of $1.24 and a one year high of $9.30. The company has a 50-day moving average of $6.91 and a two-hundred day moving average of $5.50.

Hedge Funds Weigh In On TeraWulf

Institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in shares of TeraWulf by 258.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock valued at $11,063,000 after purchasing an additional 1,704,013 shares during the period. State Street Corp raised its position in shares of TeraWulf by 3.8% in the third quarter. State Street Corp now owns 6,283,196 shares of the company’s stock valued at $29,405,000 after purchasing an additional 227,186 shares during the period. Intech Investment Management LLC bought a new position in shares of TeraWulf in the third quarter valued at approximately $340,000. Barclays PLC raised its position in shares of TeraWulf by 419.7% in the third 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 period. Finally, Central Asset Investments & Management Holdings HK Ltd bought a new position in shares of TeraWulf in the second quarter valued at approximately $1,095,000. 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.