Van ECK Associates Corp Decreases Stake in TeraWulf Inc. (NASDAQ:WULF)

Van ECK Associates Corp lowered its position in shares of TeraWulf Inc. (NASDAQ:WULF) by 16.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,735,448 shares of the company’s stock after selling 532,261 shares during the period. Van ECK Associates Corp owned 0.82% of TeraWulf worth $12,802,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of TeraWulf by 17.7% during the 1st 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 during the last quarter. Point72 Asset Management L.P. acquired a new stake in TeraWulf during the 2nd quarter worth $22,443,000. Hood River Capital Management LLC acquired a new stake in TeraWulf during the 2nd quarter worth $20,532,000. Driehaus Capital Management LLC purchased a new stake in TeraWulf in the second quarter valued at $9,948,000. Finally, Duquesne Family Office LLC acquired a new position in TeraWulf in the second quarter valued at $9,301,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

TeraWulf Stock Performance

TeraWulf stock opened at $6.21 on Wednesday. The business has a 50 day simple moving average of $4.86 and a 200-day simple moving average of $4.08. TeraWulf Inc. has a 12 month low of $0.89 and a 12 month high of $7.28.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WULF shares. Rosenblatt Securities reiterated a “buy” rating and set a $5.00 target price on shares of TeraWulf in a research report on Tuesday, October 8th. Stifel Canada lowered TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. B. Riley reissued a “buy” rating and issued a $6.00 price objective on shares of TeraWulf in a report on Monday, October 7th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of TeraWulf in a research report on Thursday, October 3rd. Finally, Needham & Company LLC assumed coverage on shares of TeraWulf in a research report on Wednesday, September 4th. They issued a “buy” rating and a $6.00 price target for the company. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $6.17.

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.