TeraWulf (NASDAQ:WULF) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

TeraWulf (NASDAQ:WULF) had its target price lifted by Needham & Company LLC from $6.00 to $9.50 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

WULF has been the subject of several other reports. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price target on shares of TeraWulf in a research report on Thursday, October 3rd. B. Riley restated a “buy” rating and issued a $6.00 price objective on shares of TeraWulf in a research note on Monday, October 7th. Rosenblatt Securities restated a “buy” rating and issued a $5.00 price objective on shares of TeraWulf in a research note on Tuesday, October 8th. Stifel Canada lowered TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. Finally, Northland Securities upped their price objective on TeraWulf from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $7.21.

TeraWulf Price Performance

Shares of NASDAQ WULF opened at $7.18 on Wednesday. The stock has a 50 day moving average price of $5.49 and a 200 day moving average price of $4.40. TeraWulf has a 52 week low of $1.01 and a 52 week high of $9.30.

Institutional Trading of TeraWulf

Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in TeraWulf by 12.9% in the 3rd quarter. Geode Capital Management LLC now owns 7,183,123 shares of the company’s stock valued at $33,623,000 after acquiring an additional 820,354 shares in the last quarter. Barclays PLC raised its holdings in TeraWulf by 419.7% in the 3rd quarter. Barclays PLC now owns 424,748 shares of the company’s stock valued at $1,989,000 after acquiring an additional 343,016 shares in the last quarter. Gordian Capital Singapore Pte Ltd acquired a new position in TeraWulf in the 3rd quarter valued at $129,000. Hodges Capital Management Inc. acquired a new position in TeraWulf in the 3rd quarter valued at $47,000. Finally, Main Management ETF Advisors LLC acquired a new position in TeraWulf in the 3rd quarter valued at $875,000. 62.49% of the stock is owned by institutional investors and hedge funds.

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.