TeraWulf (NASDAQ:WULF) Trading Up 8.5%

TeraWulf Inc. (NASDAQ:WULF) shares were up 8.5% during trading on Thursday . The stock traded as high as $2.93 and last traded at $2.93. Approximately 13,597,104 shares changed hands during trading, a decline of 35% from the average daily volume of 20,930,709 shares. The stock had previously closed at $2.70.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on WULF shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $4.00 price target on shares of TeraWulf in a research note on Thursday. Compass Point dropped their target price on shares of TeraWulf from $4.50 to $3.50 and set a “buy” rating for the company in a report on Thursday, March 21st. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, TeraWulf presently has an average rating of “Buy” and an average price target of $3.75.

TeraWulf Stock Down 2.6 %

The business’s fifty day moving average is $1.98 and its 200-day moving average is $1.65.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. California State Teachers Retirement System grew its position in shares of TeraWulf by 202.0% in the 1st quarter. California State Teachers Retirement System now owns 26,137 shares of the company’s stock valued at $25,000 after buying an additional 17,482 shares during the last quarter. Citigroup Inc. boosted its holdings in TeraWulf by 17,705.9% in the second quarter. Citigroup Inc. now owns 15,135 shares of the company’s stock valued at $26,000 after acquiring an additional 15,050 shares during the last quarter. Apollon Wealth Management LLC acquired a new stake in TeraWulf during the 4th quarter valued at approximately $27,000. Partners Capital Investment Group LLP bought a new position in TeraWulf during the 4th quarter worth approximately $29,000. Finally, Franklin Resources Inc. acquired a new position in shares of TeraWulf in the 4th quarter worth approximately $29,000. 62.49% of the stock is owned by institutional investors.

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.