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

Key Points

• Traders purchased an unusually large volume of call options — 226,533 calls, about 58% above the daily average — and the stock jumped roughly 8% to $25.36 on heavy trading volume.
• Analysts maintain a consensus Moderate Buy rating (12 Buys, 1 Hold, 1 Sell) with a consensus target of $25.83 and individual targets ranging as high as $41.50.
• Insiders have been net sellers recently: CEO Paul Prager sold 79,200 shares (and the CFO sold 26,414), while institutions own 62.49% of the stock, led by Vanguard’s ~33.64M-share stake.

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) was the target of unusually large options trading activity on Wednesday. Stock traders purchased 226,533 call options on the company. This is an increase of approximately 58% compared to the average daily volume of 143,801 call options.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WULF shares. Keefe, Bruyette & Woods dropped their price target on TeraWulf from $24.00 to $23.00 and set an "outperform" rating for the company in a research report on Wednesday, March 11th. Weiss Ratings restated a "sell (d-)" rating on shares of TeraWulf in a report on Friday, March 27th. Oppenheimer raised their target price on TeraWulf from $20.00 to $25.00 and gave the stock an "outperform" rating in a research note on Monday, April 20th. Roth Mkm reiterated a "buy" rating and set a $32.00 price target on shares of TeraWulf in a report on Friday, April 17th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $41.50 price objective on shares of TeraWulf in a report on Monday, April 27th. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $25.83.

Insider Transactions at TeraWulf

In other news, CEO Paul B. Prager sold 79,200 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $20.62, for a total value of $1,633,104.00. Following the completion of the sale, the chief executive officer directly owned 884,320 shares in the company, valued at $18,234,678.40. This represents a 8.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Patrick Fleury sold 26,414 shares of the firm's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $16.14, for a total transaction of $426,321.96. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders acquired 13,094 shares of company stock valued at $200,392 and sold 954,200 shares valued at $16,390,854. Insiders own 19.90% of the company's stock.

Hedge Funds Weigh In On TeraWulf

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of TeraWulf by 37.4% in the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company's stock worth $386,558,000 after acquiring an additional 9,162,958 shares during the last quarter. Bank of America Corp DE increased its holdings in TeraWulf by 22.2% in the 2nd quarter. Bank of America Corp DE now owns 14,392,299 shares of the company's stock valued at $63,038,000 after purchasing an additional 2,617,617 shares during the last quarter. Morgan Stanley raised its position in TeraWulf by 8.1% in the fourth quarter. Morgan Stanley now owns 9,641,209 shares of the company's stock valued at $110,778,000 after purchasing an additional 724,286 shares during the period. Geode Capital Management LLC raised its position in TeraWulf by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company's stock valued at $96,274,000 after purchasing an additional 318,842 shares during the period. Finally, State Street Corp lifted its stake in TeraWulf by 4.2% during the fourth quarter. State Street Corp now owns 7,349,508 shares of the company's stock worth $84,446,000 after purchasing an additional 298,645 shares in the last quarter. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

TeraWulf Trading Up 8.0%

WULF traded up $1.87 during trading hours on Wednesday, reaching $25.36. The company's stock had a trading volume of 33,157,866 shares, compared to its average volume of 31,681,068. The stock has a market cap of $11.04 billion, a PE ratio of -15.56 and a beta of 3.84. TeraWulf has a fifty-two week low of $2.89 and a fifty-two week high of $25.64. The company has a debt-to-equity ratio of 33.00, a current ratio of 2.00 and a quick ratio of 2.00. The business's 50-day moving average is $17.21 and its 200-day moving average is $14.99.

TeraWulf Company Profile

TeraWulf, Inc NASDAQ: WULF is a digital asset infrastructure company focused on the development and operation of zero-carbon bitcoin mining facilities. The company integrates sustainable power generation with high-density data center technologies to deliver environmentally responsible digital asset mining services. Its core business revolves around designing, building and operating large-scale mining projects powered exclusively by renewable or emissions-free energy sources.

One of TeraWulf’s flagship projects is “Project Nautilus,” located in Tompkins County, New York, which harnesses hydroelectric power sourced from the New York State Electric & Gas (NYSEG) grid.

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