TeraWulf (NASDAQ:WULF) Trading Down 4.2%

Shares of TeraWulf Inc. (NASDAQ:WULF - Get Free Report) fell 4.2% during mid-day trading on Monday . The stock traded as low as $2.48 and last traded at $2.52. 3,087,964 shares were traded during trading, a decline of 85% from the average session volume of 20,996,049 shares. The stock had previously closed at $2.63.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WULF. Cantor Fitzgerald restated an "overweight" rating and set a $4.00 price objective on shares of TeraWulf in a research report on Thursday. Compass Point cut their price objective on shares of TeraWulf from $4.50 to $3.50 and set a "buy" rating for the company in a research report on Thursday, March 21st. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, TeraWulf presently has an average rating of "Buy" and a consensus price target of $3.75.

TeraWulf Trading Down 7.6 %

The company's fifty day moving average price is $2.03 and its 200 day moving average price is $1.66.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System increased its holdings in shares of TeraWulf by 202.0% during the first quarter. California State Teachers Retirement System now owns 26,137 shares of the company's stock worth $25,000 after purchasing an additional 17,482 shares during the period. Citigroup Inc. increased its holdings in shares of TeraWulf by 17,705.9% during the second quarter. Citigroup Inc. now owns 15,135 shares of the company's stock worth $26,000 after purchasing an additional 15,050 shares during the period. Apollon Wealth Management LLC bought a new position in shares of TeraWulf during the fourth quarter worth approximately $27,000. Partners Capital Investment Group LLP bought a new position in shares of TeraWulf during the fourth quarter worth approximately $29,000. Finally, Franklin Resources Inc. bought a new position in shares of TeraWulf during the fourth quarter worth approximately $29,000. 62.49% of the stock is 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.