TeraWulf Sees Unusually Large Options Volume (NASDAQ:WULF)

TeraWulf Inc. (NASDAQ:WULF) was the recipient of some unusual options trading activity on Thursday. Traders purchased 257,604 call options on the stock. This represents an increase of 72% compared to the average daily volume of 149,401 call options.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on WULF shares. JMP Securities set a $22.00 price target on TeraWulf in a research report on Wednesday, October 29th. B. Riley upped their price target on TeraWulf from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday. Oppenheimer started coverage on shares of TeraWulf in a research report on Tuesday, October 28th. They set an “outperform” rating and a $20.00 price objective for the company. Citizens Jmp lifted their target price on shares of TeraWulf from $18.00 to $22.00 and gave the company a “market outperform” rating in a report on Wednesday, October 29th. Finally, Roth Capital raised their price objective on shares of TeraWulf from $7.00 to $12.50 and gave the company a “buy” rating in a research report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.42.

Insider Transactions at TeraWulf

In related news, Director Amanda Fabiano sold 4,600 shares of the company’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 completion of the transaction, the director owned 40,769 shares in the company, valued at $352,244.16. This represents a 10.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 19.90% of the company’s stock.

Institutional Trading of TeraWulf

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in TeraWulf by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 24,480,051 shares of the company’s stock valued at $279,562,000 after acquiring an additional 674,474 shares during the period. Bank of America Corp DE increased its position in shares of TeraWulf by 22.2% during the 2nd quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock valued at $63,038,000 after purchasing an additional 2,617,617 shares during the period. Hodges Capital Management Inc. boosted its stake in TeraWulf by 13.8% during the second quarter. Hodges Capital Management Inc. now owns 4,062,480 shares of the company’s stock valued at $17,794,000 after buying an additional 493,001 shares in the last quarter. Tidal Investments LLC lifted its holdings in TeraWulf by 6.0% in the 2nd quarter. Tidal Investments LLC now owns 2,673,105 shares of the company’s stock valued at $11,708,000 after acquiring an additional 150,346 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of TeraWulf by 64.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,646,707 shares of the company’s stock worth $11,590,000 after purchasing an additional 1,033,073 shares in the last quarter. Institutional investors own 62.49% of the company’s stock.

TeraWulf Trading Down 7.6%

NASDAQ:WULF traded down $0.96 during mid-day trading on Thursday, reaching $11.68. The company’s stock had a trading volume of 43,328,440 shares, compared to its average volume of 45,013,113. The stock has a market cap of $4.76 billion, a P/E ratio of -33.37 and a beta of 3.57. TeraWulf has a twelve month low of $2.06 and a twelve month high of $17.05. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.66 and a quick ratio of 0.66. The company’s fifty day simple moving average is $12.58 and its two-hundred day simple moving average is $7.71.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Monday, November 10th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($1.09). TeraWulf had a negative return on equity of 54.98% and a negative net margin of 91.42%.The business had revenue of $50.58 million for the quarter, compared to analyst estimates of $56.27 million. TeraWulf’s revenue was up 86.9% on a year-over-year basis. On average, equities analysts predict that TeraWulf will post -0.17 EPS for the current year.

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.