TeraWulf (NASDAQ:WULF) Shares Gap Up – Still a Buy?

TeraWulf Inc. (NASDAQ:WULF) shares gapped up prior to trading on Thursday . The stock had previously closed at $3.72, but opened at $3.96. TeraWulf shares last traded at $3.73, with a volume of 5,745,430 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently weighed in on WULF shares. B. Riley lifted their price objective on TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Atb Cap Markets upgraded shares of TeraWulf to a “strong-buy” rating in a research note on Sunday, January 5th. 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 price objective on shares of TeraWulf in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods started coverage on shares of TeraWulf in a report on Wednesday, January 8th. They set a “market perform” rating on the stock. One research 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. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $8.64.

TeraWulf Price Performance

The stock has a 50-day moving average of $5.37 and a 200-day moving average of $5.57.

Institutional Trading of TeraWulf

A number of large investors have recently modified their holdings of WULF. FMR LLC raised its stake in TeraWulf by 22.0% in the third quarter. FMR LLC now owns 7,803 shares of the company’s stock valued at $37,000 after purchasing an additional 1,408 shares in the last quarter. Chesapeake Capital Corp IL raised its position in shares of TeraWulf by 6.6% during the 3rd quarter. Chesapeake Capital Corp IL now owns 27,500 shares of the company’s stock valued at $136,000 after buying an additional 1,700 shares in the last quarter. ARS Investment Partners LLC lifted its holdings in shares of TeraWulf by 20.0% during the 4th quarter. ARS Investment Partners LLC now owns 12,000 shares of the company’s stock worth $68,000 after acquiring an additional 2,000 shares during the last quarter. Truist Financial Corp increased its stake in TeraWulf by 5.0% in the fourth quarter. Truist Financial Corp now owns 52,500 shares of the company’s stock valued at $297,000 after acquiring an additional 2,500 shares during the last quarter. Finally, CoreCap Advisors LLC raised its position in TeraWulf by 67.9% during the fourth quarter. CoreCap Advisors LLC now owns 7,554 shares of the company’s stock valued at $43,000 after purchasing an additional 3,054 shares in the last quarter. Institutional investors own 62.49% of the company’s stock.

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.