Investors Buy Large Volume of Call Options on TeraWulf (NASDAQ:WULF)

TeraWulf Inc. (NASDAQ:WULF) saw unusually large options trading activity on Monday. Investors acquired 77,288 call options on the company. This is an increase of 37% compared to the average volume of 56,351 call options.

Institutional Investors Weigh In On TeraWulf

A number of hedge funds have recently made changes to their positions in WULF. FMR LLC increased its holdings in shares of TeraWulf by 22.0% in the third quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after buying an additional 1,408 shares during the period. Chesapeake Capital Corp IL grew its holdings in shares of TeraWulf by 6.6% in the third quarter. Chesapeake Capital Corp IL now owns 27,500 shares of the company’s stock worth $136,000 after purchasing an additional 1,700 shares during the last quarter. Amalgamated Bank increased its stake in shares of TeraWulf by 57.7% in the second quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock worth $35,000 after buying an additional 2,912 shares during the period. Victory Capital Management Inc. grew its holdings in TeraWulf by 13.3% in the 3rd quarter. Victory Capital Management Inc. now owns 34,866 shares of the company’s stock worth $163,000 after acquiring an additional 4,093 shares during the last quarter. Finally, Aspect Partners LLC purchased a new position in shares of TeraWulf in the third quarter valued at about $26,000. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Trading Down 15.6 %

Shares of NASDAQ:WULF traded down $1.03 during midday trading on Monday, hitting $5.58. 28,280,450 shares of the company’s stock were exchanged, compared to its average volume of 21,538,516. TeraWulf has a 12 month low of $1.24 and a 12 month high of $9.30. The stock has a 50 day moving average price of $6.95 and a 200-day moving average price of $5.32.

Analyst Upgrades and Downgrades

Several research analysts recently commented on WULF shares. Cantor Fitzgerald restated an “overweight” rating and set a $11.00 price objective on shares of TeraWulf in a research note on Wednesday, December 4th. Northland Securities raised their price objective on TeraWulf from $8.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Stifel Canada downgraded TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. Needham & Company LLC increased their price target on TeraWulf from $6.00 to $9.50 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $10.00 price objective on shares of TeraWulf in a research report on Thursday, December 5th. Seven research 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, the stock currently has a consensus rating of “Buy” and an average target price of $8.64.

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.