Brokerages Set TeraWulf Inc. (NASDAQ:WULF) Price Target at $3.66

Shares of TeraWulf Inc. (NASDAQ:WULF) have received an average recommendation of “Buy” from the seven research firms that are covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $3.66.

Several analysts have recently issued reports on the stock. Compass Point reduced their price target on shares of TeraWulf from $4.50 to $3.50 and set a “buy” rating on the stock in a research report on Thursday, March 21st. Rosenblatt Securities started coverage on shares of TeraWulf in a research report on Tuesday, April 9th. They set a “buy” rating and a $4.20 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $4.00 target price on shares of TeraWulf in a research note on Thursday, March 28th. Finally, B. Riley cut their target price on shares of TeraWulf from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Friday, April 5th.

TeraWulf Price Performance

Shares of WULF opened at $2.29 on Friday. TeraWulf has a 1 year low of $0.89 and a 1 year high of $4.04. The company’s 50-day simple moving average is $2.17 and its 200-day simple moving average is $1.74.

Hedge Funds Weigh In On TeraWulf

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in TeraWulf by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 9,958,205 shares of the company’s stock valued at $23,900,000 after purchasing an additional 81,033 shares during the last quarter. BlackRock Inc. increased its stake in TeraWulf by 42.2% in the second quarter. BlackRock Inc. now owns 5,123,121 shares of the company’s stock valued at $8,965,000 after purchasing an additional 1,519,409 shares during the last quarter. Van ECK Associates Corp increased its stake in TeraWulf by 83.4% in the fourth quarter. Van ECK Associates Corp now owns 4,464,309 shares of the company’s stock valued at $10,714,000 after purchasing an additional 2,029,641 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in TeraWulf by 126.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,457,169 shares of the company’s stock valued at $5,897,000 after purchasing an additional 1,372,195 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in TeraWulf by 47.1% in the second quarter. Geode Capital Management LLC now owns 2,226,282 shares of the company’s stock valued at $3,896,000 after purchasing an additional 712,633 shares during the last quarter. 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.