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

Key Points

• On Friday, TeraWulf saw a significant spike in call options trading, with 75,191 options purchased, marking a 54% increase from the typical volume.
• Wall Street analysts have a positive outlook for TeraWulf, with a consensus rating of "Buy" and a target price of $8.06.
• Several institutional investors have heavily increased their stakes in TeraWulf, indicating growing confidence in the company's prospects.

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) saw unusually large options trading activity on Friday. Investors purchased 75,191 call options on the stock. Thisrepresentsanincreaseof54% compared to the typical volume of 48,710 call options.

Wall Street Analysts Forecast Growth

WULF has been the subject of a number of recent research reports. JMP Securities assumed coverage on TeraWulf in a report on Thursday, May 22nd. They issued a "market outperform" rating and a $7.00 price objective for the company. Rosenblatt Securities upped their price target on shares of TeraWulf from $4.50 to $6.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. Finally, Citizens Jmp raised shares of TeraWulf to a "strong-buy" rating and set a $7.00 price target on the stock in a research report on Thursday, May 22nd. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, TeraWulf currently has a consensus rating of "Buy" and a consensus target price of $8.06.

Hedge Funds Weigh In On TeraWulf

A number of institutional investors have recently bought and sold shares of the stock. Soros Fund Management LLC purchased a new stake in TeraWulf in the fourth quarter worth about $8,632,000. Wellington Management Group LLP grew its stake in shares of TeraWulf by 1,760.0% in the 4th quarter. Wellington Management Group LLP now owns 1,178,593 shares of the company's stock worth $6,671,000 after buying an additional 1,115,228 shares during the last quarter. Senator Investment Group LP bought a new position in TeraWulf during the 4th quarter valued at approximately $24,371,000. Metavasi Capital LP purchased a new position in TeraWulf during the fourth quarter valued at $1,132,000. Finally, Cetera Investment Advisers boosted its holdings in TeraWulf by 421.9% in the fourth quarter. Cetera Investment Advisers now owns 100,366 shares of the company's stock worth $568,000 after acquiring an additional 81,134 shares in the last quarter. 62.49% of the stock is owned by institutional investors.

TeraWulf Trading Down 2.9%

Shares of NASDAQ WULF traded down $0.15 during mid-day trading on Friday, hitting $4.80. The stock had a trading volume of 24,992,433 shares, compared to its average volume of 42,707,000. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.90 and a current ratio of 1.90. TeraWulf has a 1 year low of $2.06 and a 1 year high of $9.30. The business has a 50 day moving average price of $4.61 and a two-hundred day moving average price of $3.97. The firm has a market cap of $1.84 billion, a P/E ratio of -14.41 and a beta of 3.17.

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 the consensus estimate of ($0.04) by ($0.01). TeraWulf had a negative net margin of 94.09% and a negative return on equity of 42.09%. The business's quarterly revenue was up 33.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.03) EPS. On average, equities analysts anticipate that TeraWulf will post -0.17 EPS for the current fiscal 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.

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