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

TeraWulf Inc. (NASDAQ:WULF) shares gapped down prior to trading on Monday . The stock had previously closed at $4.77, but opened at $4.29. TeraWulf shares last traded at $4.88, with a volume of 12,617,960 shares.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Northland Securities reiterated an “outperform” rating and set a $10.00 target price on shares of TeraWulf in a research note on Tuesday, December 24th. Keefe, Bruyette & Woods assumed coverage on TeraWulf in a report on Wednesday, January 8th. They issued a “market perform” rating for the company. Atb Cap Markets upgraded shares of TeraWulf to a “strong-buy” rating in a research report on Sunday, January 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $11.00 target price on shares of TeraWulf in a report on Monday, January 6th. Finally, Stifel Canada lowered shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $8.64.

TeraWulf Stock Performance

The company has a 50 day simple moving average of $6.29 and a two-hundred day simple moving average of $5.53.

Hedge Funds Weigh In On TeraWulf

Several institutional investors and hedge funds have recently modified their holdings of WULF. Aspect Partners LLC acquired a new stake in shares of TeraWulf in the 3rd quarter valued at $26,000. Rosenberg Matthew Hamilton bought a new stake in shares of TeraWulf in the fourth quarter valued at approximately $32,000. FMR LLC grew its stake in shares of TeraWulf by 22.0% in the third quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after acquiring an additional 1,408 shares during the last quarter. KBC Group NV bought a new position in TeraWulf during the third quarter worth $39,000. Finally, Hodges Capital Management Inc. acquired a new position in TeraWulf during the 3rd quarter valued at $47,000. 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.