TeraWulf (NASDAQ:WULF) Receives Buy Rating from Needham & Company LLC

TeraWulf (NASDAQ:WULF)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a report released on Monday,Benzinga reports. They currently have a $9.50 target price on the stock. Needham & Company LLC’s price target would suggest a potential upside of 70.56% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods initiated coverage on shares of TeraWulf in a research note on Wednesday, January 8th. They issued a “market perform” rating for the company. Northland Securities reissued an “outperform” rating and issued a $10.00 target price on shares of TeraWulf in a research note on Tuesday, December 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 price target on shares of TeraWulf in a research note on Monday, January 6th. Rosenblatt Securities reiterated a “buy” rating and set a $10.00 price objective on shares of TeraWulf in a research report on Monday. Finally, B. Riley raised their price objective on TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $8.64.

TeraWulf Trading Up 7.1 %

Shares of WULF opened at $5.57 on Monday. The stock has a 50-day moving average price of $6.88 and a 200-day moving average price of $5.52. TeraWulf has a 12-month low of $1.24 and a 12-month high of $9.30.

Hedge Funds Weigh In On TeraWulf

Institutional investors and hedge funds have recently bought and sold shares of the stock. Aspect Partners LLC bought a new stake in TeraWulf in the third quarter valued at approximately $26,000. Rosenberg Matthew Hamilton purchased a new stake in TeraWulf during the 4th quarter valued at $32,000. Amalgamated Bank boosted its position in TeraWulf by 57.7% during the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after buying an additional 2,912 shares during the period. FMR LLC grew its holdings in TeraWulf by 22.0% in 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 last quarter. Finally, KBC Group NV purchased a new position in shares of TeraWulf in the third quarter valued at about $39,000. 62.49% of the stock is currently 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.