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

TeraWulf Inc. (NASDAQ:WULF)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $5.20, but opened at $5.60. TeraWulf shares last traded at $5.57, with a volume of 4,800,051 shares traded.

Analyst Ratings Changes

A number of research analysts recently commented on WULF shares. Atb Cap Markets upgraded shares of TeraWulf to a “strong-buy” rating in a research note on Sunday, January 5th. Northland Securities reiterated an “outperform” rating and set a $10.00 price target on shares of TeraWulf in a research report on Tuesday, December 24th. Rosenblatt Securities restated a “buy” rating and issued a $10.00 price objective on shares of TeraWulf in a report on Monday. B. Riley lifted their target price on TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of TeraWulf in a research report on Wednesday, January 8th. They issued a “market perform” rating on the stock. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $8.64.

TeraWulf Price Performance

The stock has a 50 day moving average of $6.89 and a two-hundred day moving average of $5.51.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Aspect Partners LLC acquired a new position in shares of TeraWulf during the 3rd quarter worth about $26,000. Rosenberg Matthew Hamilton acquired a new position in shares of TeraWulf in the 4th quarter worth approximately $32,000. Amalgamated Bank raised its stake in TeraWulf by 57.7% during the second quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock worth $35,000 after acquiring an additional 2,912 shares in the last quarter. FMR LLC lifted its holdings 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 purchasing an additional 1,408 shares during the last quarter. Finally, KBC Group NV acquired a new position in shares of TeraWulf in the 3rd quarter worth approximately $39,000. Institutional investors 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.