TeraWulf (NASDAQ:WULF) Shares Gap Up to $2.13

TeraWulf Inc. (NASDAQ:WULF)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $2.13, but opened at $2.20. TeraWulf shares last traded at $2.16, with a volume of 2,301,301 shares trading hands.

Wall Street Analysts Forecast Growth

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

TeraWulf Trading Up 1.2 %

The firm has a 50-day simple moving average of $2.17 and a 200-day simple moving average of $1.73.

Institutional Investors Weigh In On TeraWulf

A number of institutional investors have recently modified their holdings of WULF. Vanguard Group Inc. lifted its stake in TeraWulf by 5,028.0% during the first quarter. Vanguard Group Inc. now owns 2,248,383 shares of the company’s stock worth $18,886,000 after purchasing an additional 2,204,538 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of TeraWulf by 83.4% during the fourth quarter. Van ECK Associates Corp now owns 4,464,309 shares of the company’s stock worth $10,714,000 after buying an additional 2,029,641 shares during the period. BlackRock Inc. boosted its stake in shares of TeraWulf by 107.0% during the first quarter. BlackRock Inc. now owns 3,603,712 shares of the company’s stock worth $3,380,000 after buying an additional 1,863,027 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in TeraWulf by 126.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,457,169 shares of the company’s stock valued at $5,897,000 after purchasing an additional 1,372,195 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of TeraWulf by 295.2% during the 1st quarter. Geode Capital Management LLC now owns 1,513,649 shares of the company’s stock valued at $1,420,000 after acquiring an additional 1,130,659 shares during the period. 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.