TeraWulf Sees Unusually High Options Volume (NASDAQ:WULF)

Key Points

• Investors showed significant interest in TeraWulf Inc. with a purchase of 186,694 call options, marking a 99% increase compared to typical daily volumes.
• TeraWulf's stock price rose 3.7% with a current trading price of $11.35, while its market capitalization stands at $4.63 billion.
• Despite reporting a negative earnings per share of ($0.05), TeraWulf saw a 33.9% increase in revenue year-over-year, totaling $47.64 million for the last quarter.

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) was the target of unusually large options trading activity on Thursday. Stock traders acquired 186,694 call options on the stock. This is an increase of approximately 99% compared to the typical daily volume of 93,632 call options.

TeraWulf Stock Down 1.7%

WULF traded down $0.19 during trading on Friday, reaching $10.98. The company had a trading volume of 52,500,336 shares, compared to its average volume of 37,702,112. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.66 and a quick ratio of 0.66. TeraWulf has a 12 month low of $2.06 and a 12 month high of $11.63. The business's fifty day moving average price is $7.60 and its 200 day moving average price is $4.93. The company has a market cap of $4.48 billion, a P/E ratio of -31.37 and a beta of 3.36.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.01). TeraWulf had a negative net margin of 91.42% and a negative return on equity of 54.98%. The company had revenue of $47.64 million during the quarter, compared to the consensus estimate of $46.30 million. During the same period in the previous year, the firm posted ($0.03) EPS. The business's quarterly revenue was up 33.9% compared to the same quarter last year. Equities analysts anticipate that TeraWulf will post -0.17 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Roth Capital lifted their price objective on shares of TeraWulf from $7.00 to $12.50 and gave the stock a "buy" rating in a research note on Friday, August 15th. Wall Street Zen lowered shares of TeraWulf from a "hold" rating to a "sell" rating in a research note on Sunday, August 24th. Compass Point assumed coverage on shares of TeraWulf in a research note on Monday, September 15th. They set a "buy" rating on the stock. Cantor Fitzgerald lifted their price objective on shares of TeraWulf from $11.00 to $14.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Finally, B. Riley lifted their price objective on shares of TeraWulf from $8.00 to $14.00 and gave the stock a "buy" rating in a research note on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $11.22.

Insiders Place Their Bets

In related news, Director Amanda Fabiano sold 4,600 shares of TeraWulf stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $8.64, for a total transaction of $39,744.00. Following the transaction, the director owned 40,769 shares of the company's stock, valued at $352,244.16. This trade represents a 10.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 19.90% of the stock is owned by insiders.

Institutional Trading of TeraWulf

A number of hedge funds and other institutional investors have recently made changes to their positions in WULF. Ameriprise Financial Inc. raised its holdings in shares of TeraWulf by 33.5% in the fourth quarter. Ameriprise Financial Inc. now owns 137,884 shares of the company's stock valued at $780,000 after purchasing an additional 34,609 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of TeraWulf in the fourth quarter valued at approximately $961,000. Cetera Investment Advisers raised its holdings in shares of TeraWulf by 421.9% in the fourth quarter. Cetera Investment Advisers now owns 100,366 shares of the company's stock valued at $568,000 after purchasing an additional 81,134 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of TeraWulf by 12.7% in the fourth quarter. Nuveen Asset Management LLC now owns 681,240 shares of the company's stock valued at $3,856,000 after purchasing an additional 76,840 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of TeraWulf by 70.7% in the fourth quarter. ProShare Advisors LLC now owns 75,358 shares of the company's stock valued at $427,000 after purchasing an additional 31,219 shares during the last quarter. 62.49% of the stock is currently owned by institutional investors and hedge funds.

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.