TeraWulf (NASDAQ:WULF) Stock Price Down 4.8% – Here’s What Happened

TeraWulf Inc. (NASDAQ:WULF)’s stock price fell 4.8% during mid-day trading on Thursday . The stock traded as low as $5.83 and last traded at $5.89. 25,370,539 shares traded hands during trading, a decline of 24% from the average session volume of 33,525,895 shares. The stock had previously closed at $6.18.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 price objective on shares of TeraWulf in a research note on Monday, January 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $10.00 price target on shares of TeraWulf in a research report on Monday. Atb Cap Markets upgraded TeraWulf to a “strong-buy” rating in a research report on Sunday, January 5th. Needham & Company LLC reiterated a “buy” rating and set a $9.50 target price on shares of TeraWulf in a report on Monday. Finally, Stifel Canada downgraded TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $8.64.

TeraWulf Trading Down 5.3 %

The business has a 50 day simple moving average of $6.85 and a two-hundred day simple moving average of $5.52.

Institutional Trading of TeraWulf

A number of hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in shares of TeraWulf by 22.0% during the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after acquiring an additional 1,408 shares during the period. Chesapeake Capital Corp IL boosted its holdings in TeraWulf by 6.6% in the third quarter. Chesapeake Capital Corp IL now owns 27,500 shares of the company’s stock valued at $136,000 after acquiring an additional 1,700 shares during the last quarter. Amalgamated Bank grew its position in TeraWulf by 57.7% during the second quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after acquiring an additional 2,912 shares during the period. Victory Capital Management Inc. increased its stake in TeraWulf by 13.3% during the third quarter. Victory Capital Management Inc. now owns 34,866 shares of the company’s stock worth $163,000 after acquiring an additional 4,093 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of TeraWulf by 4.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 110,251 shares of the company’s stock worth $516,000 after purchasing an additional 4,756 shares during the period. 62.49% of the stock is owned by institutional investors and hedge funds.

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.