TeraWulf (NASDAQ:WULF) Shares Gap Down to $2.58

Shares of TeraWulf Inc. (NASDAQ:WULF) gapped down before the market opened on Tuesday . The stock had previously closed at $2.58, but opened at $2.48. TeraWulf shares last traded at $2.76, with a volume of 6,050,842 shares.

Analyst Ratings Changes

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

TeraWulf Stock Up 3.9 %

The firm’s fifty day simple moving average is $2.17 and its 200 day simple moving average is $1.76.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of WULF. Miracle Mile Advisors LLC acquired a new position in shares of TeraWulf during the 1st quarter valued at $29,000. Apollon Wealth Management LLC bought a new stake in shares of TeraWulf in the 4th quarter worth $27,000. Partners Capital Investment Group LLP bought a new stake in shares of TeraWulf in the 4th quarter worth $29,000. Global Retirement Partners LLC bought a new stake in shares of TeraWulf in the 4th quarter worth $30,000. Finally, Regatta Capital Group LLC bought a new stake in shares of TeraWulf in the 4th quarter worth $31,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

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.