TeraWulf (NASDAQ:WULF) Shares Gap Down to $2.43

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $2.43, but opened at $2.28. TeraWulf shares last traded at $2.26, with a volume of 3,944,890 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on WULF shares. Compass Point cut their price objective on shares of TeraWulf from $4.50 to $3.50 and set a "buy" rating for the company in a research report on Thursday, March 21st. Cantor Fitzgerald reissued an "overweight" rating and set a $4.00 price target on shares of TeraWulf in a report on Thursday, March 28th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $3.75.

TeraWulf Price Performance

The stock's 50 day moving average price is $2.05 and its 200-day moving average price is $1.67.

Institutional Investors Weigh In On TeraWulf

A number of institutional investors and hedge funds have recently bought and sold shares of WULF. Advisor Group Holdings Inc. grew its position in shares of TeraWulf by 2,542.9% during the first quarter. Advisor Group Holdings Inc. now owns 3,700 shares of the company's stock worth $31,000 after purchasing an additional 3,560 shares in the last quarter. Bank of New York Mellon Corp bought a new position in TeraWulf in the 1st quarter worth approximately $86,000. Apollon Wealth Management LLC bought a new position in TeraWulf in the 4th quarter worth approximately $27,000. Franklin Resources Inc. purchased a new stake in TeraWulf during the 4th quarter valued at approximately $29,000. Finally, Partners Capital Investment Group LLP bought a new stake in shares of TeraWulf during the fourth quarter valued at approximately $29,000. 62.49% of the stock is owned by institutional investors.

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.