TeraWulf (NASDAQ:WULF) Shares Gap Up to $2.12

TeraWulf Inc. (NASDAQ:WULF) gapped up before the market opened on Thursday . The stock had previously closed at $2.12, but opened at $2.27. TeraWulf shares last traded at $2.14, with a volume of 2,142,429 shares changing hands.

Analyst Ratings Changes

WULF has been the topic of a number of analyst reports. B. Riley cut 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. 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. Rosenblatt Securities initiated coverage on shares of TeraWulf in a research report on Tuesday, April 9th. They set a “buy” rating and a $4.20 target price for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $4.00 price objective on shares of TeraWulf in a report on Thursday, March 28th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, TeraWulf has an average rating of “Buy” and a consensus price target of $3.66.

TeraWulf Stock Performance

The stock has a 50-day simple moving average of $2.18 and a 200 day simple moving average of $1.82.

Institutional Investors Weigh In On TeraWulf

A number of large investors have recently bought and sold shares of WULF. Miracle Mile Advisors LLC purchased a new position in TeraWulf during the 1st quarter worth approximately $29,000. Apollon Wealth Management LLC acquired a new stake in shares of TeraWulf in the fourth quarter worth $27,000. Delta Financial Group Inc. raised its holdings in shares of TeraWulf by 33.6% during the first quarter. Delta Financial Group Inc. now owns 44,100 shares of the company’s stock worth $116,000 after purchasing an additional 11,100 shares during the last quarter. Partners Capital Investment Group LLP acquired a new position in TeraWulf during the fourth quarter valued at $29,000. Finally, Global Retirement Partners LLC purchased a new stake in TeraWulf in the fourth quarter valued at $30,000. 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.