TeraWulf (NASDAQ:WULF) Shares Down 4.8% – What’s Next?

TeraWulf Inc. (NASDAQ:WULF) dropped 4.8% on Thursday . The company traded as low as $5.83 and last traded at $5.89. Approximately 25,370,539 shares traded hands during trading, a decline of 24% from the average daily volume of 33,525,895 shares. The stock had previously closed at $6.18.

Analyst Ratings Changes

WULF has been the topic of several analyst reports. Stifel Canada lowered TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. Atb Cap Markets upgraded shares of TeraWulf to a “strong-buy” rating in a research note on Sunday, January 5th. Northland Securities restated an “outperform” rating and issued a $10.00 target price on shares of TeraWulf in a research note on Tuesday, December 24th. Keefe, Bruyette & Woods began coverage on shares of TeraWulf in a report on Wednesday, January 8th. They issued a “market perform” rating on the stock. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $10.00 price target on shares of TeraWulf in a research report on Monday, January 13th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $8.64.

TeraWulf Stock Performance

The firm’s fifty day moving average price is $6.76 and its two-hundred day moving average price is $5.53.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of WULF. Charles Schwab Investment Management Inc. raised its stake in shares of TeraWulf by 258.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock worth $11,063,000 after buying an additional 1,704,013 shares during the period. State Street Corp lifted its holdings in TeraWulf by 3.8% during the third quarter. State Street Corp now owns 6,283,196 shares of the company’s stock valued at $29,405,000 after purchasing an additional 227,186 shares in the last quarter. Intech Investment Management LLC purchased a new position in TeraWulf during the third quarter valued at $340,000. Barclays PLC grew its position in shares of TeraWulf by 419.7% in the third quarter. Barclays PLC now owns 424,748 shares of the company’s stock valued at $1,989,000 after purchasing an additional 343,016 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of TeraWulf by 43.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 656,520 shares of the company’s stock worth $3,073,000 after purchasing an additional 199,345 shares in the last quarter. Institutional investors and hedge funds 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.