Short Interest in TeraWulf Inc. (NASDAQ:WULF) Drops By 31.3%

TeraWulf Inc. (NASDAQ:WULF) was the target of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 27,250,000 shares, a decline of 31.3% from the March 31st total of 39,670,000 shares. Approximately 13.4% of the company’s stock are short sold. Based on an average daily volume of 18,960,000 shares, the days-to-cover ratio is presently 1.4 days.

TeraWulf Stock Performance

Shares of WULF stock opened at $2.47 on Friday. The firm’s 50 day moving average is $2.18 and its 200 day moving average is $1.79. TeraWulf has a 12 month low of $0.89 and a 12 month high of $4.04.

Institutional Trading of TeraWulf

A number of institutional investors have recently modified their holdings of the business. Miracle Mile Advisors LLC purchased a new stake in shares of TeraWulf during the 1st quarter valued at approximately $29,000. Apollon Wealth Management LLC bought a new stake in TeraWulf during the 4th quarter worth approximately $27,000. Partners Capital Investment Group LLP bought a new stake in TeraWulf during the 4th quarter worth approximately $29,000. Global Retirement Partners LLC bought a new stake in TeraWulf during the 4th quarter worth approximately $30,000. Finally, Regatta Capital Group LLC bought a new stake in TeraWulf during the 4th quarter worth approximately $31,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on WULF shares. B. Riley cut their price target on shares of TeraWulf from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Rosenblatt Securities began coverage on shares of TeraWulf in a research note on Tuesday, April 9th. They issued a “buy” rating and a $4.20 target price on the stock. Compass Point dropped their target price on shares of TeraWulf from $4.50 to $3.50 and set a “buy” rating on the stock in a research note on Thursday, March 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $4.00 target price on shares of TeraWulf in a research note on Thursday, March 28th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, TeraWulf currently has an average rating of “Buy” and a consensus price target of $3.66.

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.