TeraWulf Sees Unusually High Options Volume (NASDAQ:WULF)

TeraWulf Inc. (NASDAQ:WULF) saw unusually large options trading activity on Monday. Investors bought 61,641 call options on the company. This represents an increase of approximately 84% compared to the average daily volume of 33,504 call options.

Analyst Ratings Changes

WULF has been the subject of a number of analyst reports. Needham & Company LLC initiated coverage on shares of TeraWulf in a research report on Wednesday, September 4th. They set a “buy” rating and a $6.00 price objective for the company. Roth Mkm reiterated a “buy” rating and issued a $6.50 price target on shares of TeraWulf in a report on Monday, July 8th. Roth Capital upgraded shares of TeraWulf to a “strong-buy” rating in a report on Tuesday, July 2nd. Rosenblatt Securities increased their price target on shares of TeraWulf from $4.20 to $5.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, B. Riley reiterated a “buy” rating and issued a $6.00 price target on shares of TeraWulf in a report on Monday, August 26th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, TeraWulf presently has an average rating of “Buy” and a consensus price target of $5.71.

Institutional Investors Weigh In On TeraWulf

A number of large investors have recently added to or reduced their stakes in WULF. Point72 Asset Management L.P. acquired a new stake in TeraWulf in the 2nd quarter valued at about $22,443,000. Hood River Capital Management LLC acquired a new stake in shares of TeraWulf during the 2nd quarter worth about $20,532,000. Van ECK Associates Corp boosted its stake in shares of TeraWulf by 50.8% during the 1st quarter. Van ECK Associates Corp now owns 6,733,179 shares of the company’s stock worth $17,708,000 after purchasing an additional 2,268,870 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of TeraWulf during the 2nd quarter worth about $9,948,000. Finally, Duquesne Family Office LLC acquired a new stake in shares of TeraWulf during the 2nd quarter worth about $9,301,000. 62.49% of the stock is owned by institutional investors and hedge funds.

TeraWulf Price Performance

Shares of NASDAQ WULF opened at $5.37 on Wednesday. TeraWulf has a 52 week low of $0.89 and a 52 week high of $6.51. The company’s 50-day moving average price is $4.35 and its 200 day moving average price is $3.42.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.03) EPS for the quarter. The business had revenue of $35.57 million during the quarter, compared to analyst estimates of $35.73 million. TeraWulf had a negative net margin of 41.67% and a negative return on equity of 19.77%. Equities research analysts forecast that TeraWulf will post -0.11 earnings per share 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.