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

TeraWulf Inc. (NASDAQ:WULF - Get Free Report)'s stock price 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 traded.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Rosenblatt Securities reiterated a "buy" rating and set a $10.00 price target on shares of TeraWulf in a research note on Monday, January 13th. B. Riley increased their price target on shares of TeraWulf from $8.00 to $10.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Northland Securities reiterated an "outperform" rating and set a $10.00 price target on shares of TeraWulf in a research note on Tuesday, December 24th. Atb Cap Markets upgraded shares of TeraWulf to a "strong-buy" rating in a research note on Sunday, January 5th. Finally, Stifel Canada cut 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 given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, TeraWulf has a consensus rating of "Buy" and an average target price of $8.64.

TeraWulf Stock Down 5.8 %

The company's 50 day moving average is $6.10 and its 200 day moving average is $5.53.

Institutional Trading of TeraWulf

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in TeraWulf by 12.9% during the 3rd quarter. Geode Capital Management LLC now owns 7,183,123 shares of the company's stock valued at $33,623,000 after acquiring an additional 820,354 shares in the last quarter. State Street Corp increased its holdings in TeraWulf by 3.8% during 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 in the last quarter. Van ECK Associates Corp increased its holdings in TeraWulf by 74.2% during the 4th quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company's stock valued at $26,964,000 after acquiring an additional 2,028,383 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in TeraWulf by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,469,948 shares of the company's stock valued at $13,980,000 after acquiring an additional 105,997 shares in the last quarter. Finally, Zweig DiMenna Associates LLC increased its holdings in TeraWulf by 8.8% during the 4th quarter. Zweig DiMenna Associates LLC now owns 2,206,120 shares of the company's stock valued at $12,487,000 after acquiring an additional 178,620 shares in the last quarter. Institutional investors and hedge funds 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.