TeraWulf Inc. (NASDAQ:WULF) Receives Average Rating of “Buy” from Brokerages

Shares of TeraWulf Inc. (NASDAQ:WULF) have been assigned an average recommendation of “Buy” from the seven ratings firms that are presently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $3.66.

WULF has been the topic of several research analyst reports. Compass Point dropped their price objective on TeraWulf from $4.50 to $3.50 and set a “buy” rating on the stock in a research note on Thursday, March 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $4.00 price target on shares of TeraWulf in a research report on Thursday, March 28th. B. Riley decreased their price objective on TeraWulf from $4.00 to $3.00 and set a “buy” rating for the company in a report on Friday, April 5th. Finally, Rosenblatt Securities started coverage on shares of TeraWulf in a research report on Tuesday. They set a “buy” rating and a $4.20 target price for the company.

TeraWulf Price Performance

TeraWulf stock opened at $2.04 on Friday. The firm has a 50-day moving average of $2.15 and a two-hundred day moving average of $1.71. TeraWulf has a 1 year low of $0.89 and a 1 year high of $4.04.

Institutional Investors Weigh In On TeraWulf

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of TeraWulf by 5,028.0% in the first 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% during the 4th 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 worth $3,380,000 after purchasing an additional 1,863,027 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in TeraWulf by 126.5% in 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 grew its holdings in TeraWulf by 295.2% during the 1st quarter. Geode Capital Management LLC now owns 1,513,649 shares of the company’s stock valued at $1,420,000 after buying an additional 1,130,659 shares during the last quarter. 62.49% of the stock is owned by hedge funds and other institutional investors.

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.