TeraWulf Inc. (NASDAQ:WULF) Given Consensus Recommendation of “Buy” by Brokerages

Shares of TeraWulf Inc. (NASDAQ:WULF) have been assigned a consensus rating of “Buy” from the eight analysts that are presently covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $7.21.

Several equities analysts have weighed in on WULF shares. B. Riley reiterated a “buy” rating and issued a $6.00 target price on shares of TeraWulf in a report on Monday, October 7th. Rosenblatt Securities reissued a “buy” rating and set a $5.00 target price on shares of TeraWulf in a research note on Tuesday, October 8th. Northland Securities upped their price target on TeraWulf from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Needham & Company LLC raised their price objective on TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 target price on shares of TeraWulf in a research report on Thursday, October 3rd.

TeraWulf Trading Up 6.6 %

NASDAQ WULF opened at $7.45 on Friday. TeraWulf has a 52 week low of $1.07 and a 52 week high of $9.30. The business’s fifty day simple moving average is $5.79 and its 200-day simple moving average is $4.57.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in TeraWulf by 17.7% in the 1st quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock valued at $30,830,000 after buying an additional 1,764,115 shares during the period. SG Americas Securities LLC boosted its holdings in TeraWulf by 260.8% in the second quarter. SG Americas Securities LLC now owns 193,304 shares of the company’s stock valued at $860,000 after purchasing an additional 139,722 shares during the period. Bank of New York Mellon Corp grew its stake in TeraWulf by 97.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock worth $3,757,000 after purchasing an additional 417,369 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd purchased a new stake in TeraWulf during the 2nd quarter worth about $1,095,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in TeraWulf by 43.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 656,520 shares of the company’s stock worth $3,073,000 after purchasing an additional 199,345 shares during the period. Institutional investors and hedge funds own 62.49% of the company’s stock.

TeraWulf Company Profile

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.