TeraWulf (NASDAQ:WULF) Shares Gap Down – Should You Sell?

Shares of TeraWulf Inc. (NASDAQ:WULF) gapped down before the market opened on Thursday . The stock had previously closed at $6.23, but opened at $6.04. TeraWulf shares last traded at $6.09, with a volume of 3,929,993 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on WULF shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 price objective on shares of TeraWulf in a research report on Monday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.50 target price on shares of TeraWulf in a research note on Monday, January 13th. B. Riley lifted their price target on shares of TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Atb Cap Markets raised shares of TeraWulf to a “strong-buy” rating in a research note on Sunday, January 5th. Finally, Keefe, Bruyette & Woods began coverage on shares of TeraWulf in a report on Wednesday, January 8th. They set a “market perform” rating on the stock. 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 company. According to MarketBeat.com, TeraWulf has a consensus rating of “Buy” and an average price target of $8.64.

TeraWulf Trading Up 2.3 %

The stock’s fifty day moving average is $6.61 and its 200 day moving average is $5.56.

Institutional Investors Weigh In On TeraWulf

Institutional investors and hedge funds have recently bought and sold shares of the business. Aspect Partners LLC bought a new stake in shares of TeraWulf during the 3rd quarter valued at about $26,000. Rosenberg Matthew Hamilton purchased a new position in shares of TeraWulf during the 4th quarter worth approximately $32,000. FMR LLC grew its holdings 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 acquiring an additional 1,408 shares during the period. Amalgamated Bank lifted its stake in shares of TeraWulf by 57.7% in the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after purchasing an additional 2,912 shares during the period. Finally, KBC Group NV purchased a new position in shares of TeraWulf in the 3rd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

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.