Van ECK Associates Corp Purchases 2,028,383 Shares of TeraWulf Inc. (NASDAQ:WULF)

Van ECK Associates Corp increased its holdings in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 74.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,763,831 shares of the company's stock after purchasing an additional 2,028,383 shares during the period. Van ECK Associates Corp owned 1.23% of TeraWulf worth $26,964,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Apollon Wealth Management LLC raised its holdings in shares of TeraWulf by 20.5% during the 4th quarter. Apollon Wealth Management LLC now owns 26,612 shares of the company's stock worth $151,000 after acquiring an additional 4,529 shares in the last quarter. Sargent Investment Group LLC raised its holdings in shares of TeraWulf by 8.4% during the 4th quarter. Sargent Investment Group LLC now owns 217,840 shares of the company's stock worth $1,133,000 after acquiring an additional 16,800 shares in the last quarter. Hodges Capital Management Inc. raised its holdings in shares of TeraWulf by 100.0% during the 4th quarter. Hodges Capital Management Inc. now owns 20,000 shares of the company's stock worth $113,000 after acquiring an additional 10,000 shares in the last quarter. R Squared Ltd purchased a new stake in shares of TeraWulf during the 4th quarter worth approximately $61,000. Finally, Perigon Wealth Management LLC purchased a new stake in shares of TeraWulf during the 4th quarter worth approximately $59,000. 62.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Northland Securities reaffirmed an "outperform" rating and set a $10.00 price objective on shares of TeraWulf in a report on Tuesday, December 24th. Stifel Canada lowered TeraWulf from a "strong-buy" rating to a "moderate buy" rating in a report on Tuesday, October 29th. B. Riley increased their price target on TeraWulf from $8.00 to $10.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Needham & Company LLC restated a "buy" rating and set a $9.50 price target on shares of TeraWulf in a report on Monday, January 13th. Finally, Atb Cap Markets upgraded TeraWulf to a "strong-buy" rating in a report on Sunday, January 5th. One investment 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $8.64.

TeraWulf Stock Performance

TeraWulf stock traded down $0.20 during mid-day trading on Tuesday, hitting $4.68. The company's stock had a trading volume of 14,515,169 shares, compared to its average volume of 43,009,785. The company has a 50 day moving average of $5.82 and a 200-day moving average of $5.56. TeraWulf Inc. has a one year low of $1.57 and a one year high of $9.30.

TeraWulf Company Profile

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.