TeraWulf Inc. (NASDAQ:WULF – Get Free Report)’s share price dropped 3.6% during mid-day trading on Wednesday . The stock traded as low as $4.56 and last traded at $4.57. Approximately 10,687,337 shares were traded during trading, a decline of 47% from the average daily volume of 20,236,441 shares. The stock had previously closed at $4.74.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the stock. Roth Mkm reaffirmed a “buy” rating and set a $6.50 target price on shares of TeraWulf in a report on Monday, July 8th. Rosenblatt Securities lifted their price target on shares of TeraWulf from $4.20 to $5.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. B. Riley lifted their target price on shares of TeraWulf from $5.00 to $6.00 and gave the company a “buy” rating in a report on Friday, June 28th. Cantor Fitzgerald increased their price target on shares of TeraWulf from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Friday, July 5th. Finally, Roth Capital upgraded TeraWulf to a “strong-buy” rating in a research note on Tuesday, July 2nd. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, TeraWulf currently has an average rating of “Buy” and an average target price of $5.67.
TeraWulf Stock Performance
The business has a 50 day moving average price of $4.57 and a 200-day moving average price of $3.06.
Insider Activity
In other TeraWulf news, Treasurer Kenneth J. Deane sold 69,996 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $3.25, for a total transaction of $227,487.00. Following the completion of the transaction, the treasurer now owns 337,245 shares of the company’s stock, valued at $1,096,046.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 24.88% of the company’s stock.
Hedge Funds Weigh In On TeraWulf
Several institutional investors and hedge funds have recently bought and sold shares of WULF. Amalgamated Bank lifted its holdings in shares of 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 acquiring an additional 2,912 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in TeraWulf by 16.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,082 shares of the company’s stock valued at $119,000 after purchasing an additional 6,450 shares in the last quarter. ARS Investment Partners LLC purchased a new position in shares of TeraWulf during the 2nd quarter valued at approximately $44,000. Pekin Hardy Strauss Inc. bought a new position in TeraWulf during the 2nd quarter valued at $44,000. Finally, Miracle Mile Advisors LLC bought a new stake in TeraWulf in the first quarter valued at about $29,000. Institutional investors and hedge funds own 62.49% of the company’s stock.
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.