TeraWulf (NASDAQ:WULF) Trading Down 8.6% – What’s Next?

TeraWulf Inc. (NASDAQ:WULF) shares traded down 8.6% during mid-day trading on Wednesday . The company traded as low as $5.59 and last traded at $5.60. 15,902,511 shares changed hands during trading, a decline of 49% from the average session volume of 31,246,791 shares. The stock had previously closed at $6.13.

Analyst Upgrades and Downgrades

Several research analysts have commented on WULF shares. Atb Cap Markets upgraded TeraWulf to a “strong-buy” rating in a research note on Sunday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 target price on shares of TeraWulf in a report on Monday. Stifel Canada downgraded shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, October 29th. Rosenblatt Securities restated a “buy” rating and set a $10.00 price target on shares of TeraWulf in a research report on Thursday, December 5th. Finally, Needham & Company LLC lifted their price objective on TeraWulf from $6.00 to $9.50 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, TeraWulf currently has a consensus rating of “Buy” and a consensus price target of $8.64.

TeraWulf Trading Down 9.1 %

The company’s 50-day simple moving average is $6.97 and its two-hundred day simple moving average is $5.48.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Aspect Partners LLC purchased a new position in shares of TeraWulf during the third quarter valued at approximately $26,000. FMR LLC increased its position in TeraWulf by 22.0% during the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock valued at $37,000 after purchasing an additional 1,408 shares during the period. Amalgamated Bank raised its holdings in TeraWulf by 57.7% in the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock worth $35,000 after purchasing an additional 2,912 shares in the last quarter. KBC Group NV purchased a new stake in shares of TeraWulf in the 3rd quarter worth about $39,000. Finally, Pekin Hardy Strauss Inc. bought a new stake in shares of TeraWulf during the 2nd quarter valued at about $44,000. Institutional investors own 62.49% of the company’s stock.

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.