TeraWulf Inc. (NASDAQ:WULF) Receives Average Recommendation of “Buy” from Brokerages

Shares of TeraWulf Inc. (NASDAQ:WULF) have received an average rating of “Buy” from the seven ratings firms that are covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have covered the stock in the last year is $3.66.

WULF has been the subject of several analyst reports. B. Riley lowered their price objective on TeraWulf from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Rosenblatt Securities initiated coverage on TeraWulf in a research note on Tuesday, April 9th. They set a “buy” rating and a $4.20 price objective on the stock. Compass Point reduced their target price on shares of TeraWulf from $4.50 to $3.50 and set a “buy” rating for the company in a research note on Thursday, March 21st. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $4.00 price target on shares of TeraWulf in a report on Thursday, March 28th.

TeraWulf Price Performance

NASDAQ:WULF opened at $2.33 on Wednesday. TeraWulf has a one year low of $0.89 and a one year high of $4.04. The firm has a 50-day moving average of $2.18 and a 200-day moving average of $1.84.

Hedge Funds Weigh In On TeraWulf

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