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

Van ECK Associates Corp increased its stake in shares of TeraWulf Inc. (NASDAQ:WULF) by 74.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,763,831 shares of the company’s stock after acquiring an additional 2,028,383 shares during the quarter. Van ECK Associates Corp owned approximately 1.23% of TeraWulf worth $26,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of WULF. Zweig DiMenna Associates LLC purchased a new stake in TeraWulf in the 3rd quarter worth approximately $9,489,000. Charles Schwab Investment Management Inc. lifted its stake in shares of TeraWulf by 258.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock valued at $11,063,000 after purchasing an additional 1,704,013 shares during the period. Geode Capital Management LLC lifted its stake in shares of TeraWulf by 12.9% in the 3rd quarter. Geode Capital Management LLC now owns 7,183,123 shares of the company’s stock valued at $33,623,000 after purchasing an additional 820,354 shares during the period. Tidal Investments LLC lifted its stake in shares of TeraWulf by 1,389.8% in the 3rd quarter. Tidal Investments LLC now owns 868,692 shares of the company’s stock valued at $4,065,000 after purchasing an additional 810,382 shares during the period. Finally, Barclays PLC lifted its stake in shares of TeraWulf by 419.7% in the 3rd quarter. Barclays PLC now owns 424,748 shares of the company’s stock valued at $1,989,000 after purchasing an additional 343,016 shares during the period. Hedge funds and other institutional investors own 62.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WULF. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 target price on shares of TeraWulf in a research note on Monday, January 6th. Stifel Canada cut TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. B. Riley raised their target price on TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Rosenblatt Securities reiterated a “buy” rating and set a $10.00 price objective on shares of TeraWulf in a research note on Monday, January 13th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $9.50 price objective on shares of TeraWulf in a research note on Monday, January 13th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $8.64.

TeraWulf Price Performance

TeraWulf stock opened at $4.87 on Friday. The stock has a fifty day simple moving average of $5.93 and a two-hundred day simple moving average of $5.52. TeraWulf Inc. has a 12 month low of $1.57 and a 12 month high of $9.30.

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.