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

TeraWulf Inc. (NASDAQ:WULF)’s stock price 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 trading hands.

Analyst Ratings Changes

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

TeraWulf Stock Down 7.0 %

The business’s 50 day moving average price is $2.18 and its 200 day moving average price is $1.77.

Hedge Funds Weigh In On TeraWulf

A number of institutional investors and hedge funds have recently made changes to their positions in WULF. Miracle Mile Advisors LLC purchased a new position in TeraWulf during the first quarter valued at approximately $29,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of TeraWulf by 26.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 380,461 shares of the company’s stock worth $1,001,000 after buying an additional 79,925 shares in the last quarter. GSG Advisors LLC bought a new stake in TeraWulf in the first quarter worth $237,000. Vima LLC bought a new stake in TeraWulf in the fourth quarter worth $346,000. Finally, Intrinsic Edge Capital Management LLC bought a new stake in TeraWulf in the fourth quarter worth $1,200,000. 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.