TeraWulf (NASDAQ:WULF) Shares Gap Down to $1.94

Shares of TeraWulf Inc. (NASDAQ:WULF) gapped down before the market opened on Tuesday . The stock had previously closed at $1.94, but opened at $1.88. TeraWulf shares last traded at $1.89, with a volume of 2,438,855 shares.

Analysts Set New Price Targets

Several brokerages have issued reports on WULF. Compass Point lowered their price target on TeraWulf from $4.50 to $3.50 and set a “buy” rating for the company in a report on Thursday, March 21st. B. Riley lowered their target price on TeraWulf from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Rosenblatt Securities began coverage on shares of TeraWulf in a report on Tuesday, April 9th. They set a “buy” rating and a $4.20 target price on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $4.00 price target on shares of TeraWulf in a report on Thursday, March 28th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $3.66.

TeraWulf Stock Performance

The business has a 50-day simple moving average of $2.16 and a two-hundred day simple moving average of $1.73.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. lifted its position in TeraWulf by 2,542.9% during the 1st quarter. Advisor Group Holdings Inc. now owns 3,700 shares of the company’s stock worth $31,000 after buying an additional 3,560 shares in the last quarter. HighTower Advisors LLC boosted its position in TeraWulf by 7.0% during the first quarter. HighTower Advisors LLC now owns 73,905 shares of the company’s stock valued at $621,000 after purchasing an additional 4,867 shares during the last quarter. American International Group Inc. grew its stake in TeraWulf by 8.8% in the fourth quarter. American International Group Inc. now owns 73,588 shares of the company’s stock valued at $177,000 after purchasing an additional 5,952 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of TeraWulf by 3.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 165,756 shares of the company’s stock worth $290,000 after purchasing an additional 6,040 shares during the last quarter. Finally, Gotham Asset Management LLC raised its stake in shares of TeraWulf by 58.0% during the 4th quarter. Gotham Asset Management LLC now owns 17,969 shares of the company’s stock worth $43,000 after purchasing an additional 6,593 shares in the last quarter. Institutional investors and hedge funds 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.