TeraWulf (NASDAQ:WULF) Stock Price Down 8.6% – Time to Sell?

TeraWulf Inc. (NASDAQ:WULF)’s stock price traded down 8.6% 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 equities analysts have recently weighed in on WULF shares. Atb Cap Markets raised shares of TeraWulf to a “strong-buy” rating in a research note on Sunday, January 5th. Keefe, Bruyette & Woods assumed coverage on shares of TeraWulf in a research note on Wednesday. They issued a “market perform” rating on the stock. B. Riley increased their price objective on shares of TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Stifel Canada cut TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $10.00 price objective on shares of TeraWulf in a report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $8.64.

TeraWulf Stock Down 2.0 %

The business’s fifty day moving average price is $6.91 and its 200 day moving average price is $5.49.

Hedge Funds Weigh In On TeraWulf

Hedge funds have recently made changes to their positions in the stock. Aspect Partners LLC bought a new stake in TeraWulf in the third quarter worth approximately $26,000. FMR LLC increased its stake in shares of TeraWulf by 22.0% in the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock valued at $37,000 after acquiring an additional 1,408 shares in the last quarter. Amalgamated Bank lifted 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 acquiring an additional 2,912 shares during the period. KBC Group NV acquired a new position in shares of TeraWulf during the 3rd quarter valued at $39,000. Finally, Pekin Hardy Strauss Inc. bought a new position in TeraWulf during the second quarter worth $44,000. 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.