Van ECK Associates Corp Reduces Stake in TeraWulf Inc. $WULF

Van ECK Associates Corp lowered its stake in shares of TeraWulf Inc. (NASDAQ:WULF) by 74.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,964,770 shares of the company’s stock after selling 5,808,414 shares during the period. Van ECK Associates Corp owned 0.48% of TeraWulf worth $22,438,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. GPS Wealth Strategies Group LLC raised its stake in shares of TeraWulf by 366.2% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 3,590 shares of the company’s stock valued at $41,000 after purchasing an additional 2,820 shares during the period. Financial Consulate Inc. bought a new position in TeraWulf in the 3rd quarter worth about $57,000. PNC Financial Services Group Inc. grew its holdings in TeraWulf by 116.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,346 shares of the company’s stock valued at $61,000 after buying an additional 2,874 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in TeraWulf by 265.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 6,609 shares of the company’s stock valued at $29,000 after buying an additional 4,800 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of TeraWulf by 68.4% during the second quarter. Advisors Asset Management Inc. now owns 6,767 shares of the company’s stock valued at $30,000 after buying an additional 2,748 shares during the period. Institutional investors own 62.49% of the company’s stock.

TeraWulf Price Performance

TeraWulf stock traded up $0.78 during mid-day trading on Friday, hitting $15.45. 10,545,711 shares of the company traded hands, compared to its average volume of 30,902,836. The company has a debt-to-equity ratio of 33.00, a quick ratio of 2.00 and a current ratio of 2.00. TeraWulf Inc. has a one year low of $2.06 and a one year high of $18.51. The stock has a market cap of $6.55 billion, a price-to-earnings ratio of -9.47 and a beta of 3.67. The stock has a fifty day moving average price of $14.68 and a 200-day moving average price of $13.25.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on WULF shares. Keefe, Bruyette & Woods cut their price objective on shares of TeraWulf from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Wednesday. Morgan Stanley started coverage on shares of TeraWulf in a research note on Monday, February 9th. They issued an “overweight” rating and a $37.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a report on Monday, December 29th. Needham & Company LLC restated a “buy” rating and set a $21.00 price target on shares of TeraWulf in a research report on Tuesday, February 3rd. Finally, Rosenblatt Securities upped their price target on shares of TeraWulf from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.62.

Insider Transactions at TeraWulf

In other news, Director Michael C. Bucella bought 3,171 shares of TeraWulf stock in a transaction that occurred on Wednesday, March 4th. The shares were acquired at an average price of $15.78 per share, with a total value of $50,038.38. Following the completion of the purchase, the director directly owned 270,129 shares in the company, valued at $4,262,635.62. The trade was a 1.19% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have acquired 5,256 shares of company stock valued at $80,109 in the last ninety days. 19.90% of the stock is currently owned by insiders.

About TeraWulf

TeraWulf, Inc (NASDAQ: WULF) is a digital asset infrastructure company focused on the development and operation of zero-carbon bitcoin mining facilities. The company integrates sustainable power generation with high-density data center technologies to deliver environmentally responsible digital asset mining services. Its core business revolves around designing, building and operating large-scale mining projects powered exclusively by renewable or emissions-free energy sources.

One of TeraWulf’s flagship projects is “Project Nautilus,” located in Tompkins County, New York, which harnesses hydroelectric power sourced from the New York State Electric & Gas (NYSEG) grid.