TeraWulf (NASDAQ:WULF) Shares Gap Down to $2.58

TeraWulf Inc. (NASDAQ:WULF) gapped down before the market opened on Tuesday . The stock had previously closed at $2.58, but opened at $2.48. TeraWulf shares last traded at $2.76, with a volume of 6,050,842 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WULF. Cantor Fitzgerald reiterated an “overweight” rating and set a $4.00 price objective on shares of TeraWulf in a report on Thursday, March 28th. 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 report on Thursday, March 21st. B. Riley dropped their price objective on shares of TeraWulf from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Finally, Rosenblatt Securities began coverage on shares of TeraWulf in a report on Tuesday, April 9th. They issued a “buy” rating and a $4.20 target price on the stock. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $3.66.

TeraWulf Stock Up 3.9 %

The business’s 50 day moving average is $2.17 and its two-hundred day moving average is $1.76.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Apollon Wealth Management LLC bought a new position in TeraWulf in the 4th quarter valued at $27,000. Partners Capital Investment Group LLP bought a new position in TeraWulf in the 4th quarter valued at $29,000. Miracle Mile Advisors LLC bought a new position in TeraWulf in the 1st quarter valued at $29,000. Global Retirement Partners LLC bought a new position in TeraWulf in the 4th quarter valued at $30,000. Finally, Regatta Capital Group LLC bought a new position in TeraWulf in the 4th quarter valued at $31,000. 62.49% of the stock is owned by institutional investors.

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.