TeraWulf (NASDAQ:WULF) Stock Price Down 5.1%

TeraWulf Inc. (NASDAQ:WULF - Get Free Report)'s stock price dropped 5.1% during mid-day trading on Thursday . The stock traded as low as $2.03 and last traded at $2.05. Approximately 2,460,520 shares traded hands during 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 research analysts recently commented on WULF shares. Compass Point lowered 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. Cantor Fitzgerald restated an "overweight" rating and set a $4.00 target price on shares of TeraWulf in a research report on Thursday, March 28th. Rosenblatt Securities started coverage on shares of TeraWulf in a report on Tuesday, April 9th. They issued a "buy" rating and a $4.20 price target on the stock. Finally, B. Riley cut their price objective on TeraWulf from $4.00 to $3.00 and set a "buy" rating for the company in a research report on Friday, April 5th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, TeraWulf presently has an average rating of "Buy" and an average price target of $3.66.

TeraWulf Stock Performance

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

Institutional Trading of TeraWulf

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in TeraWulf by 126.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,457,169 shares of the company's stock worth $5,897,000 after buying an additional 1,372,195 shares during the period. Platform Technology Partners bought a new stake in shares of TeraWulf during the third quarter valued at approximately $416,000. Quadrature Capital Ltd purchased a new stake in shares of TeraWulf in the third quarter valued at approximately $144,000. Swiss National Bank bought a new position in TeraWulf in the third quarter worth approximately $294,000. Finally, Van ECK Associates Corp increased its holdings in TeraWulf by 3.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,434,668 shares of the company's stock worth $3,068,000 after purchasing an additional 70,110 shares during the period. 62.49% of the stock is owned by hedge funds and other 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.