Van ECK Associates Corp Has $12.80 Million Position in TeraWulf Inc. (NASDAQ:WULF)

Van ECK Associates Corp lessened its stake in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) by 16.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,735,448 shares of the company's stock after selling 532,261 shares during the quarter. Van ECK Associates Corp owned about 0.82% of TeraWulf worth $12,802,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in TeraWulf by 17.7% during the first quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company's stock worth $30,830,000 after buying an additional 1,764,115 shares in the last quarter. SG Americas Securities LLC increased its stake in TeraWulf by 260.8% in the 2nd quarter. SG Americas Securities LLC now owns 193,304 shares of the company's stock valued at $860,000 after purchasing an additional 139,722 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in TeraWulf by 97.8% during the second quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company's stock worth $3,757,000 after purchasing an additional 417,369 shares during the last quarter. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in TeraWulf in the second quarter valued at $1,095,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of TeraWulf by 43.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 656,520 shares of the company's stock valued at $3,073,000 after buying an additional 199,345 shares in the last quarter. 62.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WULF has been the subject of several research reports. B. Riley restated a "buy" rating and set a $6.00 price objective on shares of TeraWulf in a research report on Monday, October 7th. Cantor Fitzgerald restated an "overweight" rating and issued a $10.00 target price on shares of TeraWulf in a report on Thursday, October 3rd. Stifel Canada downgraded shares of TeraWulf from a "strong-buy" rating to a "moderate buy" rating in a research note on Tuesday, October 29th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $5.00 target price on shares of TeraWulf in a research note on Tuesday, October 8th. Finally, Needham & Company LLC initiated coverage on TeraWulf in a research note on Wednesday, September 4th. They set a "buy" rating and a $6.00 price target on the stock. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, TeraWulf has a consensus rating of "Buy" and an average price target of $6.17.

TeraWulf Price Performance

Shares of WULF stock traded up $1.46 on Wednesday, hitting $7.67. The stock had a trading volume of 48,262,062 shares, compared to its average volume of 20,898,697. The stock's 50 day moving average is $4.89 and its 200-day moving average is $4.11. TeraWulf Inc. has a 52-week low of $0.89 and a 52-week high of $7.68.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter. The firm had revenue of $35.57 million for the quarter, compared to the consensus estimate of $35.73 million. TeraWulf had a negative return on equity of 19.77% and a negative net margin of 41.67%. Equities research analysts anticipate that TeraWulf Inc. will post -0.1 earnings per share for the current fiscal year.

TeraWulf 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.