TeraWulf (NASDAQ:WULF) Shares Gap Down – Time to Sell?

TeraWulf Inc. (NASDAQ:WULF)’s share price gapped down before the market opened 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.

Analysts Set New Price Targets

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

TeraWulf Stock Performance

The company’s 50 day moving average price is $6.09 and its 200-day moving average price is $4.76.

Institutional Trading of TeraWulf

Institutional investors have recently added to or reduced their stakes in the stock. Aspect Partners LLC acquired a new position in shares of TeraWulf in the 3rd quarter worth approximately $26,000. Amalgamated Bank lifted its holdings in TeraWulf by 57.7% in the second 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 boosted its position in TeraWulf by 22.0% during the third quarter. FMR LLC now owns 7,803 shares of the company’s stock valued at $37,000 after acquiring an additional 1,408 shares during the last quarter. KBC Group NV acquired a new stake in TeraWulf during the 3rd quarter worth about $39,000. Finally, ARS Investment Partners LLC bought a new position in shares of TeraWulf in the 2nd quarter worth about $44,000. 62.49% of the stock is currently owned by 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.