TeraWulf (NASDAQ:WULF) Shares Gap Down – Should You Sell?

TeraWulf Inc. (NASDAQ:WULF)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $6.23, but opened at $6.07. TeraWulf shares last traded at $5.99, with a volume of 2,882,544 shares.

Analyst Ratings Changes

A number of brokerages have recently weighed in on WULF. Cantor Fitzgerald reissued an “overweight” rating and set a $11.00 price objective on shares of TeraWulf in a report on Wednesday, December 4th. Rosenblatt Securities reiterated a “buy” rating and set a $10.00 price target on shares of TeraWulf in a research note on Thursday, December 5th. B. Riley increased their price objective on TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Needham & Company LLC lifted their target price on TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Stifel Canada downgraded shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, October 29th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $8.64.

TeraWulf Stock Down 3.2 %

The company has a fifty day moving average price of $7.03 and a 200-day moving average price of $5.36.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in shares of TeraWulf by 12.9% during the 3rd quarter. Geode Capital Management LLC now owns 7,183,123 shares of the company’s stock worth $33,623,000 after purchasing an additional 820,354 shares during the period. State Street Corp grew its position in TeraWulf by 3.8% during the third quarter. State Street Corp now owns 6,283,196 shares of the company’s stock valued at $29,405,000 after buying an additional 227,186 shares during the period. Point72 Asset Management L.P. purchased a new position in TeraWulf in the second quarter valued at $22,443,000. Hood River Capital Management LLC acquired a new position in shares of TeraWulf in the second quarter worth about $20,532,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of TeraWulf by 258.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock worth $11,063,000 after acquiring an additional 1,704,013 shares in the last quarter. 62.49% of the stock is owned by institutional investors and hedge funds.

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.