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

Key Points

• TeraWulf experienced a significant increase in call options trading, with stock traders purchasing 287,400 call options, marking a 120% increase over the typical volume.
• The company's stock price opened at $13.71 with a market cap of $5.59 billion, and a recent earnings report revealed a revenue increase of 33.9% compared to the previous year.
• Several analysts have upgraded their price targets for TeraWulf, with JMP Securities raising it from $13.00 to $18.00 and maintaining a "market outperform" rating.

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) saw some unusual options trading on Friday. Stock traders bought 287,400 call options on the company. This is an increase of approximately 120% compared to the typical volume of 130,668 call options.

TeraWulf Trading Up 6.4%

TeraWulf stock opened at $13.71 on Friday. The stock has a market cap of $5.59 billion, a PE ratio of -39.17 and a beta of 3.44. The stock has a 50-day moving average price of $11.21 and a 200 day moving average price of $6.56. TeraWulf has a 52 week low of $2.06 and a 52 week high of $16.19. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.96.

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

Insider Buying and Selling

In other TeraWulf news, Director Amanda Fabiano sold 4,600 shares of the firm's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $8.64, for a total value of $39,744.00. Following the completion of the sale, the director owned 40,769 shares of the company's stock, valued at approximately $352,244.16. This trade represents a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 19.90% of the company's stock.

Institutional Trading of TeraWulf

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. World Equity Group Inc. purchased a new stake in TeraWulf during the 3rd quarter worth about $432,000. Nisa Investment Advisors LLC grew its holdings in TeraWulf by 1,076.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 77,375 shares of the company's stock valued at $884,000 after buying an additional 70,800 shares during the period. SG Americas Securities LLC grew its holdings in TeraWulf by 278.7% in the 3rd quarter. SG Americas Securities LLC now owns 53,493 shares of the company's stock valued at $611,000 after buying an additional 39,367 shares during the period. KLP Kapitalforvaltning AS grew its holdings in TeraWulf by 11.0% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 64,700 shares of the company's stock valued at $739,000 after buying an additional 6,400 shares during the period. Finally, Gladstone Institutional Advisory LLC purchased a new stake in TeraWulf in the 3rd quarter valued at about $163,000. Hedge funds and other institutional investors own 62.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. JMP Securities lifted their price target on TeraWulf from $13.00 to $18.00 and gave the stock a "market outperform" rating in a research note on Tuesday. Cantor Fitzgerald lifted their price target on TeraWulf from $11.00 to $14.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Citigroup reaffirmed a "market outperform" rating on shares of TeraWulf in a research note on Tuesday. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of TeraWulf in a research note on Friday. Finally, Northland Securities set a $16.25 price target on TeraWulf in a research note on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $13.35.

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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