TeraWulf (NASDAQ:WULF) Shares Gap Up – Here’s Why

TeraWulf Inc. (NASDAQ:WULF)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $5.20, but opened at $5.60. TeraWulf shares last traded at $5.57, with a volume of 4,800,051 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 price objective on shares of TeraWulf in a report on Monday, January 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $10.00 price objective on shares of TeraWulf in a report on Monday. Keefe, Bruyette & Woods began coverage on TeraWulf in a report on Wednesday, January 8th. They issued a “market perform” rating for the company. Atb Cap Markets raised TeraWulf to a “strong-buy” rating in a research note on Sunday, January 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $9.50 price objective on shares of TeraWulf in a research note on Monday. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $8.64.

TeraWulf Stock Performance

The company’s 50 day moving average price is $6.88 and its 200 day moving average price is $5.52.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Aspect Partners LLC bought a new position in shares of TeraWulf in the 3rd quarter worth $26,000. Rosenberg Matthew Hamilton acquired a new position in TeraWulf in the fourth quarter valued at about $32,000. FMR LLC boosted its holdings in TeraWulf by 22.0% during the third quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after buying an additional 1,408 shares during the last quarter. Amalgamated Bank boosted its holdings in TeraWulf by 57.7% during the second quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock worth $35,000 after buying an additional 2,912 shares during the last quarter. Finally, KBC Group NV bought a new stake in shares of TeraWulf in the 3rd quarter valued at about $39,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.

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.