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

Key Points

• Investors purchased a significant volume of 120,992 call options for TeraWulf (NASDAQ:WULF), marking a 52% increase from the typical daily volume.
• Several analysts have increased their price targets for TeraWulf, with Roth Capital raising it to $12.50 and B. Riley pushing it to $14.00, indicating a general consensus of a "Buy" rating for the stock.
• TeraWulf's stock is currently trading at $8.98, down 6.7% during mid-day trading, with a reported negative net margin of 91.42% for the last quarter.

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) was the recipient of some unusual options trading on Wednesday. Stock investors bought 120,992 call options on the company. Thisrepresentsanincreaseofapproximately52% compared to the typical daily volume of 79,673 call options.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WULF. Roth Capital lifted their price objective on shares of TeraWulf from $7.00 to $12.50 and gave the company a "buy" rating in a report on Friday, August 15th. JMP Securities upped their price target on TeraWulf from $7.00 to $13.00 and gave the stock a "market outperform" rating in a report on Friday, August 15th. B. Riley increased their price target on TeraWulf from $8.00 to $14.00 and gave the stock a "buy" rating in a research report on Monday, August 18th. Rosenblatt Securities boosted their price objective on TeraWulf from $10.50 to $12.00 and gave the company a "buy" rating in a research report on Friday, August 22nd. Finally, Cantor Fitzgerald increased their target price on TeraWulf from $11.00 to $14.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, TeraWulf has a consensus rating of "Buy" and an average price target of $11.22.

TeraWulf Trading Down 6.7%

Shares of NASDAQ WULF traded down $0.65 during mid-day trading on Wednesday, reaching $8.98. 34,836,500 shares of the company's stock were exchanged, compared to its average volume of 45,864,367. The company's 50-day moving average is $6.16 and its 200-day moving average is $4.36. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of -25.66 and a beta of 3.36. TeraWulf has a 52-week low of $2.06 and a 52-week high of $10.71. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.66 and a current ratio of 0.66.

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

Insiders Place Their Bets

In other TeraWulf news, Director Amanda Fabiano sold 4,600 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $8.64, for a total value of $39,744.00. Following the sale, the director directly owned 40,769 shares of the company's stock, valued at approximately $352,244.16. This represents a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 16.48% of the company's stock.

Institutional Trading of TeraWulf

Several hedge funds have recently modified their holdings of the stock. Mariner LLC acquired a new position in shares of TeraWulf in the 4th quarter valued at $201,000. Dimensional Fund Advisors LP increased its stake in 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 in the last quarter. Stifel Financial Corp lifted its holdings in shares of TeraWulf by 394.6% in the fourth quarter. Stifel Financial Corp now owns 49,626 shares of the company's stock valued at $281,000 after purchasing an additional 39,592 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of TeraWulf by 171.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 206,840 shares of the company's stock valued at $1,171,000 after acquiring an additional 130,734 shares during the last quarter. Finally, Voya Investment Management LLC grew its stake in TeraWulf by 4.8% in the 4th quarter. Voya Investment Management LLC now owns 78,815 shares of the company's stock worth $446,000 after acquiring an additional 3,628 shares during the period. 62.49% of the stock is currently owned by institutional investors and hedge funds.

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.

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