TeraWulf Inc. (NASDAQ:WULF) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. lifted its position in shares of TeraWulf Inc. (NASDAQ:WULF) by 10.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 686,219 shares of the company’s stock after buying an additional 64,634 shares during the quarter. Franklin Resources Inc.’s holdings in TeraWulf were worth $3,081,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp grew its stake in TeraWulf by 97.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock worth $3,757,000 after acquiring an additional 417,369 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of TeraWulf in the second quarter valued at $250,000. Principal Financial Group Inc. increased its stake in TeraWulf by 75.6% in the second quarter. Principal Financial Group Inc. now owns 30,529 shares of the company’s stock valued at $136,000 after purchasing an additional 13,142 shares during the last quarter. Rhumbline Advisers increased its stake in TeraWulf by 66.8% in the second quarter. Rhumbline Advisers now owns 299,545 shares of the company’s stock valued at $1,333,000 after purchasing an additional 119,911 shares during the last quarter. Finally, Arizona State Retirement System purchased a new position in TeraWulf during the second quarter worth about $282,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on WULF. Needham & Company LLC upped their price objective on shares of TeraWulf from $6.00 to $9.50 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Stifel Canada lowered shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. B. Riley increased their price target on shares of TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Rosenblatt Securities reissued a “buy” rating and set a $10.00 price objective on shares of TeraWulf in a research note on Thursday, December 5th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $11.00 target price on shares of TeraWulf in a research report on Wednesday, December 4th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $8.64.

TeraWulf Price Performance

TeraWulf stock opened at $6.23 on Thursday. The firm has a fifty day moving average of $7.03 and a 200-day moving average of $5.36. TeraWulf Inc. has a 52-week low of $1.24 and a 52-week high of $9.30.

TeraWulf 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.