TeraWulf (NASDAQ:WULF) Shares Gap Down to $2.43

TeraWulf Inc. (NASDAQ:WULF)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $2.43, but opened at $2.28. TeraWulf shares last traded at $2.26, with a volume of 3,944,890 shares changing hands.

Analysts Set New Price Targets

A number of analysts recently weighed in on WULF shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $4.00 price target on shares of TeraWulf in a report on Thursday, March 28th. Compass Point lowered their price target on shares of TeraWulf from $4.50 to $3.50 and set a “buy” rating for the company in a report on Thursday, March 21st. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $3.75.

TeraWulf Stock Performance

The business’s fifty day simple moving average is $2.08 and its 200 day simple moving average is $1.68.

Institutional Trading of TeraWulf

A number of institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System grew its holdings in shares of TeraWulf by 202.0% in the 1st quarter. California State Teachers Retirement System now owns 26,137 shares of the company’s stock valued at $25,000 after buying an additional 17,482 shares during the period. Citigroup Inc. lifted its position in TeraWulf by 17,705.9% in the 2nd quarter. Citigroup Inc. now owns 15,135 shares of the company’s stock valued at $26,000 after acquiring an additional 15,050 shares in the last quarter. Apollon Wealth Management LLC bought a new stake in TeraWulf in the 4th quarter valued at $27,000. Partners Capital Investment Group LLP bought a new stake in TeraWulf in the 4th quarter valued at $29,000. Finally, Franklin Resources Inc. bought a new stake in TeraWulf in the 4th quarter valued at $29,000. 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.