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

TeraWulf Inc. (NASDAQ:WULF) saw some unusual options trading activity on Wednesday. Stock traders acquired 62,734 call options on the company. This is an increase of 64% compared to the typical daily volume of 38,200 call options.

Hedge Funds Weigh In On TeraWulf

Several large investors have recently modified their holdings of WULF. GSG Advisors LLC purchased a new position in shares of TeraWulf in the first quarter worth about $237,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of TeraWulf by 26.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 380,461 shares of the company’s stock worth $1,001,000 after purchasing an additional 79,925 shares in the last quarter. Miracle Mile Advisors LLC purchased a new position in TeraWulf during the first quarter valued at approximately $29,000. Delta Financial Group Inc. grew its stake in TeraWulf by 33.6% during the first quarter. Delta Financial Group Inc. now owns 44,100 shares of the company’s stock valued at $116,000 after acquiring an additional 11,100 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in TeraWulf by 50.8% during the first quarter. Van ECK Associates Corp now owns 6,733,179 shares of the company’s stock valued at $17,708,000 after acquiring an additional 2,268,870 shares in the last quarter. Hedge funds and other institutional investors own 62.49% of the company’s stock.

Analyst Upgrades and Downgrades

WULF has been the topic of a number of recent analyst reports. Stifel Canada raised shares of TeraWulf from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, October 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price target on shares of TeraWulf in a research report on Thursday, October 3rd. Roth Capital raised shares of TeraWulf to a “strong-buy” rating in a research report on Tuesday, July 2nd. Roth Mkm reaffirmed a “buy” rating and issued a $6.50 price objective on shares of TeraWulf in a research report on Monday, July 8th. Finally, Needham & Company LLC initiated coverage on shares of TeraWulf in a research report on Wednesday, September 4th. They issued a “buy” rating and a $6.00 price objective on the stock. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $5.71.

TeraWulf Stock Up 12.8 %

Shares of WULF stock opened at $5.20 on Thursday. TeraWulf has a 52 week low of $0.89 and a 52 week high of $6.51. The firm’s 50-day simple moving average is $4.31 and its two-hundred day simple moving average is $3.70.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter. The business had revenue of $35.57 million during the quarter, compared to analysts’ expectations of $35.73 million. TeraWulf had a negative return on equity of 19.77% and a negative net margin of 41.67%. Research analysts expect that TeraWulf will post -0.1 earnings per share 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.