TeraWulf (NASDAQ:WULF) Shares Gap Up to $2.14

Shares of TeraWulf Inc. (NASDAQ:WULF - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $2.14, but opened at $2.19. TeraWulf shares last traded at $2.20, with a volume of 4,026,517 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on WULF shares. Compass Point dropped their price objective on shares of TeraWulf from $4.50 to $3.50 and set a "buy" rating on the stock in a research note 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. Rosenblatt Securities started coverage on shares of TeraWulf in a report on Tuesday, April 9th. They set a "buy" rating and a $4.20 price target for the company. Finally, B. Riley reduced their price target on shares of TeraWulf from $4.00 to $3.00 and set a "buy" rating for the company in a report on Friday, April 5th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $3.66.

TeraWulf Stock Performance

The company's 50-day moving average price is $2.23 and its two-hundred day moving average price is $1.92.

Hedge Funds Weigh In On TeraWulf

Several large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its position in shares of TeraWulf by 16.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,082 shares of the company's stock valued at $119,000 after purchasing an additional 6,450 shares in the last quarter. Miracle Mile Advisors LLC purchased a new stake in TeraWulf during the first quarter valued at about $29,000. Apollon Wealth Management LLC purchased a new stake in TeraWulf during the fourth quarter valued at about $27,000. Delta Financial Group Inc. lifted its stake in TeraWulf by 33.6% during the first quarter. Delta Financial Group Inc. now owns 44,100 shares of the company's stock valued at $116,000 after buying an additional 11,100 shares in the last quarter. Finally, Partners Capital Investment Group LLP purchased a new stake in TeraWulf during the fourth quarter valued at about $29,000. Institutional investors 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.