TeraWulf (NASDAQ:WULF) Shares Gap Down – What’s Next?

TeraWulf Inc. (NASDAQ:WULF) gapped down prior to trading on Tuesday . The stock had previously closed at $7.32, but opened at $7.11. TeraWulf shares last traded at $7.33, with a volume of 3,937,301 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 price objective on shares of TeraWulf in a research note on Wednesday. Northland Securities boosted their price objective on TeraWulf from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Stifel Canada cut TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. Rosenblatt Securities restated a “buy” rating and set a $5.00 price target on shares of TeraWulf in a research note on Tuesday, October 8th. Finally, B. Riley restated a “buy” rating and set a $6.00 price target on shares of TeraWulf in a research note on Monday, October 7th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, TeraWulf currently has an average rating of “Buy” and an average target price of $7.36.

TeraWulf Price Performance

The company has a 50-day simple moving average of $6.24 and a 200-day simple moving average of $4.86.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WULF. Vanguard Group Inc. raised its position in TeraWulf by 17.7% in the first quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock worth $30,830,000 after acquiring an additional 1,764,115 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in TeraWulf by 16.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 45,082 shares of the company’s stock worth $119,000 after acquiring an additional 6,450 shares in the last quarter. SG Americas Securities LLC raised its position in TeraWulf by 260.8% in the second quarter. SG Americas Securities LLC now owns 193,304 shares of the company’s stock worth $860,000 after acquiring an additional 139,722 shares in the last quarter. Dynamic Advisor Solutions LLC purchased a new position in TeraWulf in the second quarter worth $101,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in TeraWulf by 20.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 457,175 shares of the company’s stock valued at $2,034,000 after purchasing an additional 76,714 shares during the last quarter. Hedge funds and other 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.