Shares of TeraWulf Inc. (NASDAQ:WULF – Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $2.37, but opened at $2.20. TeraWulf shares last traded at $2.21, with a volume of 2,643,710 shares trading hands.
Analysts Set New Price Targets
Separately, Cantor Fitzgerald cut their price objective on TeraWulf from $4.00 to $3.00 and set an “overweight” rating for the company in a research report on Tuesday, November 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, TeraWulf has a consensus rating of “Buy” and an average target price of $3.45.
TeraWulf Price Performance
The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.12 and a current ratio of 0.12. The company has a 50-day moving average of $1.97 and a 200 day moving average of $1.66.
Institutional Trading of TeraWulf
Several large investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in shares of TeraWulf by 30.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,632 shares of the company’s stock worth $93,000 after purchasing an additional 9,090 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of TeraWulf during the fourth quarter worth approximately $491,000. Barclays PLC purchased a new stake in shares of TeraWulf during the fourth quarter worth approximately $486,000. Vanguard Group Inc. increased its position in shares of TeraWulf by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 9,958,205 shares of the company’s stock worth $23,900,000 after purchasing an additional 81,033 shares in the last quarter. Finally, Voya Investment Management LLC increased its position in shares of TeraWulf by 6.7% during the fourth quarter. Voya Investment Management LLC now owns 108,860 shares of the company’s stock worth $261,000 after purchasing an additional 6,852 shares in the last quarter. 13.12% 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. It develops, owns, and operates bitcoin mining facility sites in New York and Pennsylvania. TeraWulf Inc was founded in 2021 and is based in Easton, Maryland.