TeraWulf Sees Unusually Large Options Volume (NASDAQ:WULF)

TeraWulf Inc. (NASDAQ:WULF) saw some unusual options trading on Tuesday. Traders bought 66,874 call options on the company. This represents an increase of approximately 133% compared to the typical volume of 28,753 call options.

TeraWulf Price Performance

Shares of NASDAQ WULF opened at $3.31 on Wednesday. TeraWulf has a 1 year low of $0.89 and a 1 year high of $6.51. The firm has a fifty day moving average price of $4.47 and a 200-day moving average price of $2.97.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.03) EPS for the quarter. The business had revenue of $35.57 million for the quarter, compared to the consensus estimate of $35.73 million. TeraWulf had a negative net margin of 56.70% and a negative return on equity of 30.00%. As a group, equities analysts expect that TeraWulf will post -0.07 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on WULF shares. Roth Capital raised shares of TeraWulf to a “strong-buy” rating in a report on Tuesday, July 2nd. Cantor Fitzgerald lifted their price target on shares of TeraWulf from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Friday, July 5th. Roth Mkm restated a “buy” rating and issued a $6.50 price objective on shares of TeraWulf in a research note on Monday, July 8th. Finally, B. Riley raised their target price on TeraWulf from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $5.53.

Insider Activity at TeraWulf

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of TeraWulf by 126.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,457,169 shares of the company’s stock worth $5,897,000 after purchasing an additional 1,372,195 shares during the last quarter. Vontobel Holding Ltd. lifted its position in TeraWulf by 36.2% during the fourth quarter. Vontobel Holding Ltd. now owns 115,332 shares of the company’s stock valued at $277,000 after purchasing an additional 30,679 shares during the last quarter. Sloy Dahl & Holst LLC purchased a new position in shares of TeraWulf in the 4th quarter worth $78,000. Van ECK Associates Corp increased its holdings in shares of TeraWulf by 83.4% in the 4th quarter. Van ECK Associates Corp now owns 4,464,309 shares of the company’s stock worth $10,714,000 after buying an additional 2,029,641 shares during the last quarter. Finally, Apollon Wealth Management LLC purchased a new stake in shares of TeraWulf during the 4th quarter valued at about $27,000. 62.49% of the stock is 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.