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

TeraWulf Inc. (NASDAQ:WULF) saw unusually large options trading on Wednesday. Stock investors acquired 96,538 call options on the stock. This represents an increase of approximately 54% compared to the average volume of 62,669 call options.

Hedge Funds Weigh In On TeraWulf

Hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its stake in TeraWulf by 66.8% in the 2nd quarter. Rhumbline Advisers now owns 299,545 shares of the company’s stock valued at $1,333,000 after purchasing an additional 119,911 shares during the last quarter. Arizona State Retirement System acquired a new position in shares of TeraWulf in the second quarter valued at approximately $282,000. American Century Companies Inc. raised its position in shares of TeraWulf by 162.7% in the second quarter. American Century Companies Inc. now owns 128,842 shares of the company’s stock valued at $573,000 after buying an additional 79,799 shares during the last quarter. WINTON GROUP Ltd purchased a new position in shares of TeraWulf during the second quarter valued at approximately $97,000. Finally, Renaissance Technologies LLC acquired a new stake in TeraWulf during the second quarter worth approximately $1,618,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

TeraWulf Stock Down 5.3 %

Shares of TeraWulf stock opened at $5.85 on Friday. The company has a 50-day moving average of $6.85 and a two-hundred day moving average of $5.52. TeraWulf has a 12-month low of $1.24 and a 12-month high of $9.30.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 price objective on shares of TeraWulf in a research note on Monday, January 6th. Stifel Canada lowered TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, October 29th. Needham & Company LLC reissued a “buy” rating and issued a $9.50 target price on shares of TeraWulf in a report on Monday. B. Riley raised their price target on TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Keefe, Bruyette & Woods initiated coverage on TeraWulf in a research report on Wednesday, January 8th. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, TeraWulf currently has a consensus rating of “Buy” and an average price target of $8.64.

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.