TeraWulf (NASDAQ:WULF) Trading 5.5% Higher – Here’s What Happened

TeraWulf Inc. (NASDAQ:WULF)’s share price shot up 5.5% during mid-day trading on Friday . The stock traded as high as $5.78 and last traded at $5.76. 2,182,676 shares changed hands during trading, a decline of 89% from the average session volume of 20,711,676 shares. The stock had previously closed at $5.46.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WULF. B. Riley increased their target price on TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Stifel Canada cut TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $10.00 target price on shares of TeraWulf in a research report on Thursday, December 5th. Needham & Company LLC upped their price target on TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Northland Securities reissued an “outperform” rating and set a $10.00 price objective on shares of TeraWulf in a research report on Tuesday, December 24th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $8.64.

TeraWulf Trading Up 14.3 %

The business’s fifty day simple moving average is $6.99 and its 200-day simple moving average is $5.43.

Institutional Trading of TeraWulf

Hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. bought a new stake in TeraWulf in the second quarter worth $22,443,000. Hood River Capital Management LLC purchased a new position in shares of TeraWulf during the 2nd quarter worth about $20,532,000. Driehaus Capital Management LLC bought a new position in TeraWulf during the 2nd quarter valued at about $9,948,000. Duquesne Family Office LLC purchased a new stake in TeraWulf in the 2nd quarter worth about $9,301,000. Finally, Zweig DiMenna Associates LLC bought a new stake in TeraWulf in the third quarter worth about $9,489,000. Hedge funds and other 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.