Van ECK Associates Corp Buys 2,029,641 Shares of TeraWulf Inc. (NASDAQ:WULF)

Van ECK Associates Corp increased its holdings in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) by 83.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,464,309 shares of the company's stock after purchasing an additional 2,029,641 shares during the period. Van ECK Associates Corp owned approximately 1.85% of TeraWulf worth $10,714,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. increased its position in shares of TeraWulf by 126.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,457,169 shares of the company's stock worth $5,897,000 after acquiring an additional 1,372,195 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of TeraWulf by 37.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,672,844 shares of the company's stock valued at $4,015,000 after purchasing an additional 459,997 shares in the last quarter. Luminus Management LLC boosted its position in shares of TeraWulf by 97.4% during the third quarter. Luminus Management LLC now owns 1,099,393 shares of the company's stock worth $1,385,000 after buying an additional 542,496 shares during the period. Axxcess Wealth Management LLC grew its holdings in shares of TeraWulf by 356.2% during the third quarter. Axxcess Wealth Management LLC now owns 1,000,000 shares of the company's stock worth $1,260,000 after buying an additional 780,786 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in TeraWulf by 95.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 416,006 shares of the company's stock valued at $524,000 after buying an additional 203,584 shares during the last quarter. 62.49% of the stock is currently owned by institutional investors and hedge funds.

TeraWulf Stock Performance

Shares of WULF traded up $0.02 during mid-day trading on Friday, reaching $2.19. The company's stock had a trading volume of 10,871,871 shares, compared to its average volume of 19,246,625. TeraWulf Inc. has a 1-year low of $0.89 and a 1-year high of $4.04. The business has a 50-day simple moving average of $2.18 and a two-hundred day simple moving average of $1.82.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WULF shares. Cantor Fitzgerald reissued an "overweight" rating and issued a $4.00 price objective on shares of TeraWulf in a research report on Thursday, March 28th. Compass Point lowered their target price on TeraWulf from $4.50 to $3.50 and set a "buy" rating on the stock in a research report on Thursday, March 21st. B. Riley reduced their price target on TeraWulf from $4.00 to $3.00 and set a "buy" rating for the company in a research report on Friday, April 5th. Finally, Rosenblatt Securities assumed coverage on TeraWulf in a research report on Tuesday, April 9th. They set a "buy" rating and a $4.20 price target on the stock. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $3.66.

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.