Atb Cap Markets Upgrades TeraWulf (NASDAQ:WULF) to “Strong-Buy”

TeraWulf (NASDAQ:WULF) was upgraded by analysts at Atb Cap Markets to a “strong-buy” rating in a report released on Sunday,Zacks.com reports.

WULF has been the subject of several other research reports. Needham & Company LLC upped their target price on shares of TeraWulf from $6.00 to $9.50 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $10.00 price objective on shares of TeraWulf in a research note on Thursday, December 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 target price on shares of TeraWulf in a research note on Monday. Northland Securities restated an “outperform” rating and set a $10.00 target price on shares of TeraWulf in a research report on Tuesday, December 24th. Finally, B. Riley upped their price target on TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $8.64.

TeraWulf Stock Down 0.8 %

Shares of NASDAQ:WULF traded down $0.05 during trading on Friday, hitting $6.45. 2,535,015 shares of the company’s stock were exchanged, compared to its average volume of 28,192,348. The firm has a 50-day moving average price of $6.98 and a two-hundred day moving average price of $5.47. TeraWulf has a 1-year low of $1.24 and a 1-year high of $9.30.

Hedge Funds Weigh In On TeraWulf

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp increased its stake in TeraWulf by 97.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock worth $3,757,000 after purchasing an additional 417,369 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of TeraWulf by 75.6% during the second quarter. Principal Financial Group Inc. now owns 30,529 shares of the company’s stock worth $136,000 after acquiring an additional 13,142 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of TeraWulf by 66.8% during the second quarter. Rhumbline Advisers now owns 299,545 shares of the company’s stock worth $1,333,000 after acquiring an additional 119,911 shares during the period. Arizona State Retirement System bought a new stake in TeraWulf in the 2nd quarter valued at $282,000. Finally, Cowen AND Company LLC acquired a new position in TeraWulf in the 2nd quarter worth $89,000. 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.