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

Key Points

• On Friday, traders acquired 220,710 call options for TeraWulf Inc. (NASDAQ: WULF), marking an increase of roughly 100% from the average volume.
• Analyst ratings for TeraWulf show positive sentiment, with several firms increasing their price targets significantly; B. Riley raised theirs from $8.00 to $14.00 and assigned a "buy" rating.
• TeraWulf's shares recently traded at $14.46, while the company reported quarterly revenue of $47.64 million, up 33.9% year-over-year, although it missed EPS estimates.

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) saw unusually large options trading on Friday. Investors purchased 220,710 call options on the company. This represents an increase of approximately 100% compared to the average volume of 110,435 call options.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. B. Riley lifted their price objective on shares of TeraWulf from $8.00 to $14.00 and gave the company a "buy" rating in a research report on Monday, August 18th. Northland Securities upped their price objective on TeraWulf from $12.00 to $15.00 and gave the company an "outperform" rating in a research note on Tuesday, August 26th. JMP Securities upped their price objective on TeraWulf from $7.00 to $13.00 and gave the company a "market outperform" rating in a research note on Friday, August 15th. Wall Street Zen lowered TeraWulf from a "hold" rating to a "sell" rating in a research note on Sunday, August 24th. Finally, Rosenblatt Securities increased their price target on shares of TeraWulf from $12.00 to $14.50 and gave the company a "buy" rating in a report on Thursday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $11.50.

TeraWulf Price Performance

Shares of WULF stock traded up $0.87 during trading on Friday, hitting $14.46. The company had a trading volume of 29,686,533 shares, compared to its average volume of 44,600,785. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market capitalization of $5.90 billion, a P/E ratio of -41.79 and a beta of 3.44. The stock's 50-day moving average price is $9.44 and its 200 day moving average price is $5.72. TeraWulf has a one year low of $2.06 and a one year high of $15.51.

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

Insider Activity

In other news, Director Amanda Fabiano sold 4,600 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $8.64, for a total transaction of $39,744.00. Following the sale, the director owned 40,769 shares in the company, valued at $352,244.16. This represents a 10.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 19.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of WULF. Nisa Investment Advisors LLC lifted its holdings in shares of TeraWulf by 135.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,575 shares of the company's stock worth $29,000 after acquiring an additional 3,784 shares during the period. Steward Partners Investment Advisory LLC increased its stake in shares of TeraWulf by 265.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 6,609 shares of the company's stock valued at $29,000 after purchasing an additional 4,800 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of TeraWulf by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 6,767 shares of the company's stock valued at $30,000 after purchasing an additional 2,748 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of TeraWulf in the 2nd quarter valued at $41,000. Finally, Edmond DE Rothschild Holding S.A. bought a new position in shares of TeraWulf in the 1st quarter valued at $29,000. Institutional investors own 62.49% of the company's stock.

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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