TeraWulf (NASDAQ:WULF) Trading Down 6.3% – Should You Sell?

Shares of TeraWulf Inc. (NASDAQ:WULF) traded down 6.3% on Wednesday . The stock traded as low as $7.67 and last traded at $7.68. 3,681,022 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 21,389,580 shares. The stock had previously closed at $8.20.

Analysts Set New Price Targets

WULF has been the topic of a number of recent research reports. B. Riley raised their price target on shares of TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a report on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $11.00 price target on shares of TeraWulf in a research report on Wednesday, December 4th. Needham & Company LLC increased their price objective on TeraWulf from $6.00 to $9.50 and gave the company a “buy” rating in a report on Wednesday, November 13th. Northland Securities raised their price objective on TeraWulf from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $10.00 target price on shares of TeraWulf in a research report on Thursday, December 5th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $8.64.

TeraWulf Trading Down 6.9 %

The business’s fifty day moving average price is $6.90 and its 200 day moving average price is $5.25.

Institutional Investors Weigh In On TeraWulf

Large investors have recently modified their holdings of the stock. Franklin Resources Inc. boosted its stake in TeraWulf by 10.4% in the 3rd quarter. Franklin Resources Inc. now owns 686,219 shares of the company’s stock valued at $3,081,000 after buying an additional 64,634 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of TeraWulf by 1,389.8% in the 3rd quarter. Tidal Investments LLC now owns 868,692 shares of the company’s stock valued at $4,065,000 after purchasing an additional 810,382 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of TeraWulf in the 3rd quarter valued at $434,000. Geode Capital Management LLC grew its holdings in shares of TeraWulf by 12.9% in the 3rd quarter. Geode Capital Management LLC now owns 7,183,123 shares of the company’s stock worth $33,623,000 after purchasing an additional 820,354 shares during the last quarter. Finally, Barclays PLC increased its position in shares of TeraWulf by 419.7% during the 3rd quarter. Barclays PLC now owns 424,748 shares of the company’s stock worth $1,989,000 after purchasing an additional 343,016 shares in the last quarter. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Company Profile

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.