TeraWulf (NASDAQ:WULF) Shares Gap Up – Time to Buy?

TeraWulf Inc. (NASDAQ:WULF)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $6.18, but opened at $6.50. TeraWulf shares last traded at $6.49, with a volume of 4,623,662 shares.

Analyst Ratings Changes

A number of research firms recently issued reports on WULF. Atb Cap Markets upgraded shares of TeraWulf to a “strong-buy” rating in a research report on Sunday, January 5th. Rosenblatt Securities reaffirmed a “buy” rating and set a $10.00 target price on shares of TeraWulf in a report on Monday, January 13th. Northland Securities restated an “outperform” rating and set a $10.00 price target on shares of TeraWulf in a research report on Tuesday, December 24th. B. Riley upped their price objective on shares of TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Stifel Canada cut TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, TeraWulf currently has an average rating of “Buy” and a consensus target price of $8.64.

TeraWulf Stock Performance

The firm’s 50 day moving average is $6.63 and its 200-day moving average is $5.56.

Institutional Trading of TeraWulf

Several large investors have recently added to or reduced their stakes in WULF. Aspect Partners LLC purchased a new stake in shares of TeraWulf in the third quarter valued at about $26,000. Rosenberg Matthew Hamilton acquired a new position in TeraWulf in the 4th quarter valued at about $32,000. Amalgamated Bank grew its stake in shares of TeraWulf by 57.7% in the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after buying an additional 2,912 shares during the period. FMR LLC increased its holdings in shares of TeraWulf by 22.0% during the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after buying an additional 1,408 shares during the last quarter. Finally, KBC Group NV purchased a new stake in shares of TeraWulf during the 3rd quarter valued at approximately $39,000. 62.49% of the stock is currently owned by hedge funds and other 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.