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

TeraWulf Inc. (NASDAQ:WULF) gapped up before the market opened on Friday . The stock had previously closed at $6.18, but opened at $6.50. TeraWulf shares last traded at $6.49, with a volume of 4,623,662 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on WULF shares. Northland Securities reaffirmed an “outperform” rating and set a $10.00 price target on shares of TeraWulf in a research report on Tuesday, December 24th. Atb Cap Markets upgraded TeraWulf to a “strong-buy” rating in a research report on Sunday, January 5th. Rosenblatt Securities reiterated a “buy” rating and set a $10.00 price objective on shares of TeraWulf in a research note on Monday, January 13th. Stifel Canada cut shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, October 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 price target on shares of TeraWulf in a research note on Monday, January 6th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, TeraWulf has a consensus rating of “Buy” and an average price target of $8.64.

TeraWulf Stock Up 2.3 %

The firm has a fifty day moving average price of $6.61 and a 200-day moving average price of $5.56.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Aspect Partners LLC purchased a new position in TeraWulf during the 3rd quarter valued at about $26,000. Rosenberg Matthew Hamilton purchased a new position in TeraWulf in the 4th quarter worth $32,000. Amalgamated Bank boosted its holdings in TeraWulf by 57.7% during the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after acquiring an additional 2,912 shares during the period. FMR LLC boosted its position in TeraWulf by 22.0% during the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock valued at $37,000 after buying an additional 1,408 shares during the period. Finally, KBC Group NV purchased a new position in TeraWulf during the 3rd quarter valued at about $39,000. 62.49% of the stock is 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.