TeraWulf (NASDAQ:WULF) Shares Gap Up – Here’s What Happened

TeraWulf Inc. (NASDAQ:WULF) gapped up before the market opened on Tuesday . The stock had previously closed at $5.32, but opened at $5.51. TeraWulf shares last traded at $5.52, with a volume of 4,340,104 shares.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WULF. B. Riley upped their price objective on shares of TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $10.00 price objective on shares of TeraWulf in a report on Thursday, December 5th. Northland Securities reissued an “outperform” rating and set a $10.00 target price on shares of TeraWulf in a research note on Tuesday, December 24th. Needham & Company LLC increased their price target on TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $11.00 target price on shares of TeraWulf in a research report on Wednesday, December 4th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, TeraWulf presently has a consensus rating of “Buy” and an average price target of $8.64.

TeraWulf Trading Up 2.8 %

The stock’s fifty day simple moving average is $7.06 and its 200-day simple moving average is $5.41.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of WULF. FMR LLC boosted its stake in shares of TeraWulf by 22.0% in the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock valued at $37,000 after buying an additional 1,408 shares during the period. Chesapeake Capital Corp IL lifted its stake in TeraWulf by 6.6% in the third quarter. Chesapeake Capital Corp IL now owns 27,500 shares of the company’s stock worth $136,000 after acquiring an additional 1,700 shares during the last quarter. Amalgamated Bank grew its holdings in TeraWulf by 57.7% during the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock worth $35,000 after acquiring an additional 2,912 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of TeraWulf by 13.3% in the 3rd quarter. Victory Capital Management Inc. now owns 34,866 shares of the company’s stock valued at $163,000 after purchasing an additional 4,093 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of TeraWulf by 4.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 110,251 shares of the company’s stock valued at $516,000 after purchasing an additional 4,756 shares in the last quarter. 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.