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

TeraWulf Inc. (NASDAQ:WULF)’s stock price 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 brokerages recently weighed in on WULF. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 price objective on shares of TeraWulf in a report on Monday, January 6th. Stifel Canada lowered TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. Northland Securities reiterated an “outperform” rating and issued a $10.00 target price on shares of TeraWulf in a report on Tuesday, December 24th. Keefe, Bruyette & Woods started coverage on TeraWulf in a report on Wednesday, January 8th. They set a “market perform” rating on the stock. Finally, B. Riley boosted their price objective on TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, TeraWulf has a consensus rating of “Buy” and an average target price of $8.64.

TeraWulf Price Performance

The business has a 50-day moving average of $6.63 and a 200-day moving average of $5.56.

Institutional Trading of TeraWulf

A number of large investors have recently bought and sold shares of WULF. Aspect Partners LLC purchased a new stake in shares of TeraWulf in the third quarter valued at about $26,000. Rosenberg Matthew Hamilton acquired a new position in TeraWulf in the 4th quarter valued at $32,000. Amalgamated Bank lifted its position in TeraWulf by 57.7% in the second quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after purchasing an additional 2,912 shares during the period. FMR LLC increased its position in TeraWulf by 22.0% during the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after purchasing an additional 1,408 shares during the period. Finally, KBC Group NV purchased a new position in shares of TeraWulf during the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

TeraWulf Company Profile

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.