Van ECK Associates Corp Purchases 70,110 Shares of TeraWulf Inc. (NASDAQ:WULF)

Van ECK Associates Corp increased its position in TeraWulf Inc. (NASDAQ:WULFFree Report) by 3.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,434,668 shares of the company’s stock after acquiring an additional 70,110 shares during the quarter. Van ECK Associates Corp’s holdings in TeraWulf were worth $3,068,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. increased its holdings in TeraWulf by 2,542.9% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,700 shares of the company’s stock worth $31,000 after acquiring an additional 3,560 shares during the last quarter. HighTower Advisors LLC increased its holdings in TeraWulf by 7.0% in the 1st quarter. HighTower Advisors LLC now owns 73,905 shares of the company’s stock worth $621,000 after acquiring an additional 4,867 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in TeraWulf by 3.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 165,756 shares of the company’s stock worth $290,000 after acquiring an additional 6,040 shares during the last quarter. Bank of New York Mellon Corp bought a new position in TeraWulf in the 1st quarter worth about $86,000. Finally, JFS Wealth Advisors LLC boosted its stake in TeraWulf by 67.6% in the 2nd quarter. JFS Wealth Advisors LLC now owns 28,500 shares of the company’s stock worth $50,000 after purchasing an additional 11,500 shares during the period. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on WULF. Cantor Fitzgerald cut their target price on TeraWulf from $4.00 to $3.00 and set an “overweight” rating for the company in a research note on Tuesday, November 14th. Stifel Nicolaus began coverage on TeraWulf in a research note on Wednesday, October 18th. They issued a “buy” rating and a $3.00 target price for the company. Finally, Stifel Canada restated a “speculative buy” rating on shares of TeraWulf in a research note on Tuesday, October 17th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $3.45.

Read Our Latest Analysis on WULF

TeraWulf Stock Performance

Shares of WULF opened at $2.39 on Tuesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.34. The stock has a 50-day moving average price of $1.87 and a 200-day moving average price of $1.68. TeraWulf Inc. has a 12-month low of $0.54 and a 12-month high of $4.04.

TeraWulf (NASDAQ:WULFGet Free Report) last issued its quarterly earnings results on Monday, November 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). The business had revenue of $18.96 million for the quarter, compared to the consensus estimate of $20.39 million. TeraWulf had a negative net margin of 158.25% and a negative return on equity of 67.73%. Equities analysts expect that TeraWulf Inc. will post -0.3 earnings per share for the current year.

About TeraWulf

(Free Report)

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. It develops, owns, and operates bitcoin mining facility sites in New York and Pennsylvania. TeraWulf Inc was founded in 2021 and is based in Easton, Maryland.

See Also

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Institutional Ownership by Quarter for TeraWulf (NASDAQ:WULF)

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