TeraWulf (NASDAQ:WULF) Shares Gap Up – What’s Next?

TeraWulf Inc. (NASDAQ:WULF) shares 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 traded.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WULF. Atb Cap Markets raised shares of TeraWulf to a “strong-buy” rating in a report on Sunday, January 5th. Needham & Company LLC reissued a “buy” rating and issued a $9.50 target price on shares of TeraWulf in a research note on Monday. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 price target on shares of TeraWulf in a report on Monday, January 6th. Rosenblatt Securities reiterated a “buy” rating and set a $10.00 price objective on shares of TeraWulf in a report on Monday. Finally, Stifel Canada cut TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $8.64.

TeraWulf Stock Up 11.0 %

The stock’s fifty day moving average price is $6.88 and its 200-day moving average price is $5.52.

Institutional Investors Weigh In On TeraWulf

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