TeraWulf (NASDAQ:WULF) Shares Gap Down to $1.94

TeraWulf Inc. (NASDAQ:WULF)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $1.94, but opened at $1.88. TeraWulf shares last traded at $1.89, with a volume of 2,438,855 shares trading hands.

Analyst Ratings Changes

A number of research firms have recently weighed in on WULF. Rosenblatt Securities initiated coverage on TeraWulf in a report on Tuesday, April 9th. They set a “buy” rating and a $4.20 price target on the stock. Compass Point cut their target price on TeraWulf from $4.50 to $3.50 and set a “buy” rating on the stock in a research note on Thursday, March 21st. Cantor Fitzgerald reissued an “overweight” rating and issued a $4.00 price target on shares of TeraWulf in a research note on Thursday, March 28th. Finally, B. Riley lowered their price target on TeraWulf from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, TeraWulf currently has a consensus rating of “Buy” and an average target price of $3.66.

TeraWulf Stock Up 4.5 %

The stock has a 50 day moving average price of $2.16 and a 200 day moving average price of $1.73.

Institutional Investors Weigh In On TeraWulf

Institutional investors and hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of TeraWulf by 126.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,457,169 shares of the company’s stock worth $5,897,000 after purchasing an additional 1,372,195 shares in the last quarter. Platform Technology Partners acquired a new stake in shares of TeraWulf during the 3rd quarter valued at $416,000. Quadrature Capital Ltd acquired a new stake in shares of TeraWulf during the 3rd quarter valued at $144,000. Swiss National Bank bought a new stake in shares of TeraWulf during the 3rd quarter worth $294,000. Finally, Van ECK Associates Corp grew its holdings in shares of TeraWulf by 3.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,434,668 shares of the company’s stock worth $3,068,000 after acquiring an additional 70,110 shares during the last quarter. 62.49% of the stock is owned by institutional investors and hedge funds.

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.