TeraWulf (NASDAQ:WULF) Shares Gap Down – Here’s What Happened

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 changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WULF. 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 report on Thursday, December 19th. Keefe, Bruyette & Woods started coverage on TeraWulf in a research note on Wednesday, January 8th. They issued a “market perform” rating for the company. Stifel Canada lowered TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 price objective on shares of TeraWulf in a research report on Monday, January 6th. Finally, Northland Securities reissued an “outperform” rating and set a $10.00 target price on shares of TeraWulf in a research note on Tuesday, December 24th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, TeraWulf presently has a consensus rating of “Buy” and a consensus price target of $8.64.

TeraWulf Stock Up 2.8 %

The stock’s fifty day moving average price is $6.64 and its 200-day moving average price is $5.55.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. R Squared Ltd bought a new stake in TeraWulf during the fourth quarter worth $61,000. Perigon Wealth Management LLC acquired a new stake in TeraWulf in the 4th quarter valued at about $59,000. Mount Yale Investment Advisors LLC bought a new position in TeraWulf during the fourth quarter worth about $79,000. KBC Group NV increased its position in TeraWulf by 49.3% during the fourth quarter. KBC Group NV now owns 12,349 shares of the company’s stock worth $70,000 after buying an additional 4,077 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in TeraWulf by 6.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,316,786 shares of the company’s stock valued at $7,453,000 after buying an additional 83,008 shares during the period. 62.49% of the stock is currently owned by institutional investors.

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.