TeraWulf (NASDAQ:WULF) Shares Gap Down to $2.47

Shares of TeraWulf Inc. (NASDAQ:WULF) gapped down before the market opened on Monday . The stock had previously closed at $2.47, but opened at $2.37. TeraWulf shares last traded at $2.33, with a volume of 1,032,237 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Rosenblatt Securities started coverage on shares of TeraWulf in a report on Tuesday, April 9th. They issued a “buy” rating and a $4.20 target price for the company. B. Riley decreased their price objective on shares of TeraWulf from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Compass Point dropped their target price on TeraWulf from $4.50 to $3.50 and set a “buy” rating for the company in a research report on Thursday, March 21st. 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 research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $3.66.

TeraWulf Trading Down 6.9 %

The firm has a fifty day simple moving average of $2.18 and a 200 day simple moving average of $1.81.

Hedge Funds Weigh In On TeraWulf

Institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp lifted its stake in TeraWulf by 50.8% in the first quarter. Van ECK Associates Corp now owns 6,733,179 shares of the company’s stock worth $17,708,000 after acquiring an additional 2,268,870 shares during the period. Delta Financial Group Inc. lifted its position in shares of TeraWulf by 33.6% in the 1st 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 period. Miracle Mile Advisors LLC bought a new position in shares of TeraWulf during the first quarter valued at approximately $29,000. Wealth Enhancement Advisory Services LLC increased its holdings in TeraWulf by 26.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 380,461 shares of the company’s stock valued at $1,001,000 after buying an additional 79,925 shares during the period. Finally, GSG Advisors LLC bought a new position in TeraWulf in the first quarter worth approximately $237,000. Hedge funds and other 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.