TeraWulf (NASDAQ:WULF) Shares Down 5.2% – Here’s What Happened

TeraWulf Inc. (NASDAQ:WULF) was down 5.2% during trading on Wednesday . The stock traded as low as $5.73 and last traded at $5.65. Approximately 12,422,944 shares were traded during trading, a decline of 64% from the average daily volume of 34,936,203 shares. The stock had previously closed at $5.96.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $10.00 target price on shares of TeraWulf in a research note on Monday, January 13th. Stifel Canada downgraded shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods started coverage on shares of TeraWulf in a report on Wednesday, January 8th. They set a “market perform” rating on the stock. Northland Securities reaffirmed an “outperform” rating and issued a $10.00 price target on shares of TeraWulf in a report on Tuesday, December 24th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 price target on shares of TeraWulf in a research report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, TeraWulf presently has a consensus rating of “Buy” and a consensus target price of $8.64.

TeraWulf Price Performance

The stock has a 50-day moving average of $6.63 and a 200-day moving average of $5.56.

Institutional Trading of TeraWulf

Several institutional investors and hedge funds have recently modified their holdings of the business. Aspect Partners LLC bought a new stake in TeraWulf during the third quarter valued at approximately $26,000. Rosenberg Matthew Hamilton purchased a new stake in shares of TeraWulf during the 4th quarter valued at $32,000. Amalgamated Bank raised its position 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 buying an additional 2,912 shares in the last quarter. FMR LLC grew its position in TeraWulf by 22.0% in the third quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after acquiring an additional 1,408 shares in the last quarter. Finally, KBC Group NV bought a new position in TeraWulf in the third quarter valued at $39,000. Hedge funds and other 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.