Traders Purchase High Volume of TeraWulf Call Options (NASDAQ:WULF)

TeraWulf Inc. (NASDAQ:WULF) was the recipient of some unusual options trading on Monday. Stock traders acquired 61,641 call options on the stock. This represents an increase of 84% compared to the average daily volume of 33,504 call options.

Analyst Ratings Changes

WULF has been the subject of several recent research reports. Roth Capital upgraded TeraWulf to a “strong-buy” rating in a report on Tuesday, July 2nd. Rosenblatt Securities boosted their target price on shares of TeraWulf from $4.20 to $5.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Needham & Company LLC began coverage on shares of TeraWulf in a report on Wednesday, September 4th. They issued a “buy” rating and a $6.00 target price for the company. B. Riley reiterated a “buy” rating and issued a $6.00 target price on shares of TeraWulf in a report on Monday, August 26th. Finally, Roth Mkm restated a “buy” rating and set a $6.50 price objective on shares of TeraWulf in a report on Monday, July 8th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $5.71.

TeraWulf Stock Up 9.6 %

Shares of WULF traded up $0.43 during midday trading on Monday, reaching $4.93. The company had a trading volume of 20,855,377 shares, compared to its average volume of 19,960,898. TeraWulf has a 1-year low of $0.89 and a 1-year high of $6.51. The firm has a 50 day simple moving average of $4.37 and a 200-day simple moving average of $3.39.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter. TeraWulf had a negative return on equity of 19.77% and a negative net margin of 41.67%. The business had revenue of $35.57 million for the quarter, compared to analysts’ expectations of $35.73 million. As a group, equities analysts forecast that TeraWulf will post -0.11 EPS for the current year.

Hedge Funds Weigh In On TeraWulf

Hedge funds and other institutional investors have recently bought and sold shares of the company. Amalgamated Bank boosted its holdings in TeraWulf by 57.7% during the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after acquiring an additional 2,912 shares during the period. ARS Investment Partners LLC purchased a new position in shares of TeraWulf in the 2nd quarter valued at about $44,000. Pekin Hardy Strauss Inc. acquired a new position in shares of TeraWulf during the second quarter worth about $44,000. Miracle Mile Advisors LLC purchased a new stake in shares of TeraWulf in the 1st quarter valued at approximately $29,000. Finally, Partners Capital Investment Group LLP purchased a new position in TeraWulf in the fourth quarter valued at $29,000. 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.