TeraWulf (NASDAQ:WULF) Shares Gap Up to $2.04

TeraWulf Inc. (NASDAQ:WULF - Get Free Report)'s share price gapped up prior to trading on Wednesday . The stock had previously closed at $2.04, but opened at $2.14. TeraWulf shares last traded at $2.07, with a volume of 2,567,863 shares trading hands.

Wall Street Analyst Weigh In

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

TeraWulf Price Performance

The company has a 50-day simple moving average of $2.22 and a two-hundred day simple moving average of $1.89.

Institutional Trading of TeraWulf

Several hedge funds have recently made changes to their positions in WULF. Apollon Wealth Management LLC bought a new position in TeraWulf in the 4th quarter worth about $27,000. Partners Capital Investment Group LLP purchased a new position in TeraWulf during the fourth quarter valued at approximately $29,000. Miracle Mile Advisors LLC bought a new stake in TeraWulf during the 1st quarter worth approximately $29,000. Global Retirement Partners LLC bought a new stake in TeraWulf during the fourth quarter valued at $30,000. Finally, Regatta Capital Group LLC purchased a new position in TeraWulf during the fourth quarter worth about $31,000. 62.49% of the stock is currently owned by institutional investors.

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.