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

TeraWulf Inc. (NASDAQ:WULF) saw some unusual options trading on Friday. Investors purchased 287,400 call options on the company. This is an increase of approximately 120% compared to the typical daily volume of 130,668 call options.

TeraWulf Trading Up 6.4%

Shares of WULF stock opened at $13.71 on Friday. TeraWulf has a twelve month low of $2.06 and a twelve month high of $16.19. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.96. The business’s 50 day moving average is $11.21 and its two-hundred day moving average is $6.59. The company has a market capitalization of $5.59 billion, a P/E ratio of -39.17 and a beta of 3.44.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings data on Friday, August 8th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The firm had revenue of $47.64 million during the quarter, compared to analyst estimates of $46.30 million. TeraWulf had a negative net margin of 91.42% and a negative return on equity of 54.98%. TeraWulf’s revenue for the quarter was up 33.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.03) EPS. Equities analysts forecast that TeraWulf will post -0.17 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Northland Securities set a $16.25 price objective on TeraWulf in a research report on Friday, October 17th. Citigroup reaffirmed a “market outperform” rating on shares of TeraWulf in a report on Tuesday. Cantor Fitzgerald raised their price objective on shares of TeraWulf from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. JMP Securities upped their price objective on shares of TeraWulf from $13.00 to $18.00 and gave the company a “market outperform” rating in a research note on Tuesday. Finally, UBS Group set a $18.25 target price on TeraWulf in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $13.35.

Insider Buying and Selling

In other TeraWulf news, Director Amanda Fabiano sold 4,600 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $8.64, for a total transaction of $39,744.00. Following the sale, the director directly owned 40,769 shares in the company, valued at $352,244.16. This represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 19.90% of the stock is owned by company insiders.

Institutional Trading of TeraWulf

Institutional investors have recently bought and sold shares of the company. Edmond DE Rothschild Holding S.A. acquired a new position in TeraWulf in the 1st quarter valued at about $29,000. Nisa Investment Advisors LLC raised its holdings in TeraWulf by 135.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,575 shares of the company’s stock valued at $29,000 after acquiring an additional 3,784 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of TeraWulf by 265.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 6,609 shares of the company’s stock worth $29,000 after purchasing an additional 4,800 shares during the last quarter. Advisors Asset Management Inc. increased its stake in TeraWulf by 68.4% in the second quarter. Advisors Asset Management Inc. now owns 6,767 shares of the company’s stock valued at $30,000 after purchasing an additional 2,748 shares during the last quarter. Finally, Calamos Advisors LLC purchased a new position in TeraWulf during the first quarter worth about $33,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

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.