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

TeraWulf Inc. (NASDAQ:WULF)’s share price 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 changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on WULF shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 target price on shares of TeraWulf in a research report on Thursday, October 3rd. B. Riley reissued a “buy” rating and issued a $6.00 price objective on shares of TeraWulf in a research report on Monday, October 7th. Stifel Canada downgraded shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. Northland Securities boosted their price target on shares of TeraWulf from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $5.00 price objective on shares of TeraWulf in a report on Tuesday, October 8th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, TeraWulf currently has a consensus rating of “Buy” and an average target price of $7.21.

TeraWulf Stock Performance

The company has a 50 day moving average price of $6.09 and a 200 day moving average price of $4.76.

Institutional Trading of TeraWulf

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in TeraWulf by 17.7% during 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 during the period. SG Americas Securities LLC raised its position in shares of TeraWulf by 260.8% in the second quarter. SG Americas Securities LLC now owns 193,304 shares of the company’s stock valued at $860,000 after buying an additional 139,722 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of TeraWulf by 97.8% in the second quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock valued at $3,757,000 after buying an additional 417,369 shares during the period. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in TeraWulf during the second quarter worth approximately $1,095,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in TeraWulf by 43.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 656,520 shares of the company’s stock worth $3,073,000 after acquiring an additional 199,345 shares during the period. Institutional investors and hedge funds 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.