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

Shares of TeraWulf Inc. (NASDAQ:WULF) gapped down prior to trading on Monday . The stock had previously closed at $15.01, but opened at $14.44. TeraWulf shares last traded at $15.0350, with a volume of 3,617,676 shares.

Wall Street Analyst Weigh In

WULF has been the topic of a number of recent research reports. B. Riley Financial upped their price target on shares of TeraWulf from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Morgan Stanley initiated coverage on TeraWulf in a report on Monday, February 9th. They set an “overweight” rating and a $37.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $18.00 target price on shares of TeraWulf in a report on Tuesday, December 23rd. Needham & Company LLC restated a “buy” rating and set a $21.00 target price on shares of TeraWulf in a report on Tuesday, February 3rd. Finally, Citizens Jmp set a $22.00 target price on shares of TeraWulf in a research report on Wednesday, October 29th. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.31.

TeraWulf Trading Up 2.8%

The business has a fifty day moving average of $13.67 and a two-hundred day moving average of $12.53. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of -10.87 and a beta of 3.69. The company has a debt-to-equity ratio of 4.45, a quick ratio of 1.03 and a current ratio of 1.03.

Hedge Funds Weigh In On TeraWulf

A number of hedge funds have recently made changes to their positions in the business. Advisory Services Network LLC bought a new stake in TeraWulf in the third quarter valued at about $29,000. Vermillion Wealth Management Inc. boosted its holdings in TeraWulf by 1,191.0% in the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock worth $30,000 after purchasing an additional 2,394 shares during the period. Solstein Capital LLC acquired a new position in shares of TeraWulf in the 4th quarter valued at about $34,000. GPS Wealth Strategies Group LLC grew its position in shares of TeraWulf by 366.2% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 3,590 shares of the company’s stock valued at $41,000 after buying an additional 2,820 shares during the last quarter. Finally, Activest Wealth Management bought a new stake in shares of TeraWulf during the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

About TeraWulf

TeraWulf, Inc (NASDAQ: WULF) is a digital asset infrastructure company focused on the development and operation of zero-carbon bitcoin mining facilities. The company integrates sustainable power generation with high-density data center technologies to deliver environmentally responsible digital asset mining services. Its core business revolves around designing, building and operating large-scale mining projects powered exclusively by renewable or emissions-free energy sources.

One of TeraWulf’s flagship projects is “Project Nautilus,” located in Tompkins County, New York, which harnesses hydroelectric power sourced from the New York State Electric & Gas (NYSEG) grid.