TeraWulf (NASDAQ:WULF) Shares Gap Down – Should You Sell?

TeraWulf Inc. (NASDAQ:WULF)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $6.23, but opened at $6.04. TeraWulf shares last traded at $6.09, with a volume of 3,929,993 shares traded.

Analyst Ratings Changes

A number of research analysts have commented on WULF shares. Northland Securities restated an “outperform” rating and set a $10.00 price target on shares of TeraWulf in a research note on Tuesday, December 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.50 price target on shares of TeraWulf in a research note on Monday, January 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 price objective on shares of TeraWulf in a research note on Monday, January 6th. Atb Cap Markets upgraded shares of TeraWulf to a “strong-buy” rating in a research note on Sunday, January 5th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of TeraWulf in a report on Wednesday, January 8th. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $8.64.

TeraWulf Price Performance

The stock’s 50 day simple moving average is $6.64 and its two-hundred day simple moving average is $5.55.

Institutional Investors Weigh In On TeraWulf

Several hedge funds and other institutional investors have recently made changes to their positions in WULF. Aspect Partners LLC bought a new position in TeraWulf in the third quarter valued at about $26,000. Rosenberg Matthew Hamilton acquired a new position in TeraWulf in the fourth quarter valued at approximately $32,000. Amalgamated Bank boosted its stake 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 acquiring an additional 2,912 shares during the last quarter. FMR LLC grew its holdings 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 acquiring an additional 1,408 shares during the period. Finally, KBC Group NV bought a new stake in shares of TeraWulf during the 3rd quarter valued at $39,000. 62.49% of the stock is owned by institutional investors and hedge funds.

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.