TeraWulf (NASDAQ:WULF) Shares Gap Up – What’s Next?

TeraWulf Inc. (NASDAQ:WULF)’s stock price 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.

Analysts Set New Price Targets

Several equities research analysts have recently commented on WULF shares. B. Riley increased their price objective on TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 price target on shares of TeraWulf in a research report on Wednesday, December 4th. Needham & Company LLC lifted their price objective on shares of TeraWulf from $6.00 to $9.50 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Stifel Canada lowered shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. Finally, Northland Securities reiterated an “outperform” rating and issued a $10.00 target price on shares of TeraWulf in a research note on Tuesday, December 24th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, TeraWulf currently has a consensus rating of “Buy” and a consensus target price of $8.64.

TeraWulf Stock Up 6.4 %

The company’s fifty day simple moving average is $7.02 and its two-hundred day simple moving average is $5.43.

Hedge Funds Weigh In On TeraWulf

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in 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 during the period. Franklin Resources Inc. lifted its holdings in shares of TeraWulf by 10.4% during the third quarter. Franklin Resources Inc. now owns 686,219 shares of the company’s stock worth $3,081,000 after buying an additional 64,634 shares in the last quarter. Tidal Investments LLC boosted its position in shares of TeraWulf by 1,389.8% in the third quarter. Tidal Investments LLC now owns 868,692 shares of the company’s stock valued at $4,065,000 after acquiring an additional 810,382 shares during the period. Virtu Financial LLC acquired a new position in shares of TeraWulf in the third quarter valued at about $434,000. Finally, Geode Capital Management LLC increased its position in TeraWulf by 12.9% during the third quarter. Geode Capital Management LLC now owns 7,183,123 shares of the company’s stock worth $33,623,000 after acquiring an additional 820,354 shares during the period. 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.