TeraWulf (NASDAQ:WULF) Stock Price Down 5.9%

TeraWulf Inc. (NASDAQ:WULF) shares fell 5.9% during mid-day trading on Wednesday . The company traded as low as $2.53 and last traded at $2.55. 15,599,352 shares were traded during mid-day trading, a decline of 21% from the average session volume of 19,838,338 shares. The stock had previously closed at $2.71.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WULF. B. Riley reduced their target price on TeraWulf from $4.00 to $3.00 and set a “buy” rating for the company in a report on Friday, April 5th. Compass Point reduced their target price on TeraWulf from $4.50 to $3.50 and set a “buy” rating for the company in a report on Thursday, March 21st. Rosenblatt Securities began coverage on TeraWulf in a report on Tuesday, April 9th. They issued a “buy” rating and a $4.20 target price for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $4.00 target price on shares of TeraWulf in a report on Thursday, March 28th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, TeraWulf presently has a consensus rating of “Buy” and an average price target of $3.66.

TeraWulf Trading Down 0.8 %

The company has a fifty day moving average of $2.18 and a 200-day moving average of $1.79.

Institutional Trading of TeraWulf

Hedge funds and other institutional investors have recently modified their holdings of the company. Apollon Wealth Management LLC purchased a new stake in shares of TeraWulf during the fourth quarter worth $27,000. Partners Capital Investment Group LLP bought a new position in TeraWulf during the fourth quarter valued at about $29,000. Miracle Mile Advisors LLC bought a new position in TeraWulf during the first quarter valued at about $29,000. Global Retirement Partners LLC bought a new position in TeraWulf during the fourth quarter valued at about $30,000. Finally, Regatta Capital Group LLC bought a new position in TeraWulf during the fourth quarter valued at about $31,000. 62.49% of the stock is currently owned by hedge funds and other 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.