TeraWulf (NASDAQ:WULF) Shares Down 5.1%

TeraWulf Inc. (NASDAQ:WULF)’s stock price was down 5.1% on Thursday . The stock traded as low as $2.03 and last traded at $2.05. Approximately 2,460,520 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 18,251,773 shares. The stock had previously closed at $2.16.

Wall Street Analysts Forecast Growth

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

TeraWulf Stock Performance

The firm has a 50 day simple moving average of $2.24 and a two-hundred day simple moving average of $1.93.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Apollon Wealth Management LLC bought a new position in TeraWulf during the fourth quarter valued at about $27,000. Partners Capital Investment Group LLP bought a new position in shares of TeraWulf during the 4th quarter valued at approximately $29,000. Miracle Mile Advisors LLC purchased a new stake in shares of TeraWulf during the 1st quarter worth approximately $29,000. Global Retirement Partners LLC bought a new stake in shares of TeraWulf in the 4th quarter worth approximately $30,000. Finally, Regatta Capital Group LLC bought a new position in TeraWulf during the fourth quarter valued at $31,000. Hedge funds and other institutional investors 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.