Van ECK Associates Corp Lowers Holdings in TeraWulf Inc. (NASDAQ:WULF)

Van ECK Associates Corp trimmed its stake in TeraWulf Inc. (NASDAQ:WULF) by 51.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,267,709 shares of the company’s stock after selling 3,465,470 shares during the quarter. Van ECK Associates Corp owned 0.98% of TeraWulf worth $14,541,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of WULF. Vanguard Group Inc. boosted its stake in TeraWulf by 17.7% in the 1st quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock worth $30,830,000 after purchasing an additional 1,764,115 shares in the last quarter. Intrinsic Edge Capital Management LLC purchased a new position in TeraWulf in the fourth quarter worth about $1,200,000. Bank of New York Mellon Corp lifted its stake in shares of TeraWulf by 97.8% in the second quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock worth $3,757,000 after buying an additional 417,369 shares in the last quarter. Vima LLC purchased a new stake in shares of TeraWulf during the fourth quarter valued at approximately $346,000. Finally, SG Americas Securities LLC increased its position in shares of TeraWulf by 260.8% during the second quarter. SG Americas Securities LLC now owns 193,304 shares of the company’s stock valued at $860,000 after acquiring an additional 139,722 shares in the last quarter. 62.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at TeraWulf

In other news, Treasurer Kenneth J. Deane sold 69,996 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $3.25, for a total transaction of $227,487.00. Following the completion of the sale, the treasurer now owns 337,245 shares of the company’s stock, valued at approximately $1,096,046.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 24.88% of the company’s stock.

TeraWulf Trading Up 3.8 %

TeraWulf stock opened at $4.36 on Monday. TeraWulf Inc. has a one year low of $0.89 and a one year high of $6.51. The stock has a fifty day moving average of $4.61 and a 200 day moving average of $3.19.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Rosenblatt Securities upped their price objective on TeraWulf from $4.20 to $5.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Roth Capital raised TeraWulf to a “strong-buy” rating in a report on Tuesday, July 2nd. Roth Mkm reaffirmed a “buy” rating and set a $6.50 price objective on shares of TeraWulf in a research report on Monday, July 8th. Cantor Fitzgerald boosted their target price on TeraWulf from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Friday, July 5th. Finally, B. Riley reaffirmed a “buy” rating and set a $6.00 price target on shares of TeraWulf in a report on Monday, August 26th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $5.67.

About TeraWulf

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.