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

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) was the target of some unusual options trading on Wednesday. Stock investors bought 107,802 call options on the company. This is an increase of approximately 137% compared to the average volume of 45,580 call options.

TeraWulf Trading Down 9.7%

WULF stock traded down $0.41 during trading on Thursday, reaching $3.83. 80,326,247 shares of the stock were exchanged, compared to its average volume of 31,234,303. TeraWulf has a twelve month low of $2.06 and a twelve month high of $9.30. The company has a market capitalization of $1.47 billion, a P/E ratio of -11.61 and a beta of 3.09. The stock has a 50 day simple moving average of $3.13 and a 200-day simple moving average of $4.57.

TeraWulf (NASDAQ:WULF - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.09). TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The company had revenue of $34.41 million for the quarter, compared to analyst estimates of $45.72 million. The firm's revenue for the quarter was down 18.9% compared to the same quarter last year. Equities analysts predict that TeraWulf will post -0.17 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in TeraWulf by 2.3% in the first quarter. Vanguard Group Inc. now owns 23,880,134 shares of the company's stock valued at $65,193,000 after buying an additional 534,315 shares during the period. Driehaus Capital Management LLC lifted its holdings in TeraWulf by 3.4% in the fourth quarter. Driehaus Capital Management LLC now owns 12,733,291 shares of the company's stock valued at $72,070,000 after buying an additional 412,877 shares during the period. Geode Capital Management LLC lifted its stake in shares of TeraWulf by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 7,636,552 shares of the company's stock valued at $43,232,000 after purchasing an additional 453,429 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of TeraWulf by 21.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,369,381 shares of the company's stock valued at $30,387,000 after purchasing an additional 955,795 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of TeraWulf by 74.2% in the 4th quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company's stock valued at $26,964,000 after purchasing an additional 2,028,383 shares during the period. Institutional investors and hedge funds own 62.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Citizens Jmp raised TeraWulf to a "strong-buy" rating and set a $7.00 price objective on the stock in a report on Thursday, May 22nd. Rosenblatt Securities lowered their price target on TeraWulf from $4.50 to $4.00 and set a "buy" rating on the stock in a report on Monday, May 12th. JMP Securities began coverage on shares of TeraWulf in a research note on Thursday, May 22nd. They issued a "market outperform" rating and a $7.00 target price on the stock. Finally, Jones Trading assumed coverage on shares of TeraWulf in a research note on Monday, March 31st. They issued a "buy" rating and a $4.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $7.67.

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.