TeraWulf (NASDAQ:WULF) Shares Gap Up – Should You Buy?

Shares of TeraWulf Inc. (NASDAQ:WULF) gapped up before the market opened on Friday . The stock had previously closed at $5.15, but opened at $5.36. TeraWulf shares last traded at $5.36, with a volume of 8,175,646 shares.

Analyst Ratings Changes

A number of equities research analysts have issued reports on WULF shares. Northland Securities reissued an “outperform” rating and set a $10.00 target price on shares of TeraWulf in a report on Tuesday, December 24th. Atb Cap Markets upgraded TeraWulf to a “strong-buy” rating in a research report on Sunday, January 5th. Stifel Canada lowered TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. Needham & Company LLC reiterated a “buy” rating and set a $9.50 price target on shares of TeraWulf in a report on Monday, January 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $11.00 price target on shares of TeraWulf in a research note on Monday, January 6th. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $8.64.

TeraWulf Stock Performance

The firm’s 50 day moving average price is $6.21 and its 200-day moving average price is $5.53.

Institutional Trading of TeraWulf

A number of large investors have recently made changes to their positions in WULF. Charles Schwab Investment Management Inc. raised its position in TeraWulf by 258.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock valued at $11,063,000 after purchasing an additional 1,704,013 shares during the last quarter. State Street Corp grew its stake in TeraWulf by 3.8% in the 3rd quarter. State Street Corp now owns 6,283,196 shares of the company’s stock valued at $29,405,000 after acquiring an additional 227,186 shares during the last quarter. Intech Investment Management LLC acquired a new position in TeraWulf in the 3rd quarter valued at about $340,000. GoalVest Advisory LLC purchased a new position in shares of TeraWulf during the 4th quarter worth about $651,000. Finally, Barclays PLC raised its holdings in shares of TeraWulf by 419.7% in the 3rd quarter. Barclays PLC now owns 424,748 shares of the company’s stock worth $1,989,000 after purchasing an additional 343,016 shares during the period. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

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.