Investors Purchase High Volume of TeraWulf Call Options (NASDAQ:WULF)

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) saw some unusual options trading activity on Wednesday. Traders purchased 96,538 call options on the company. This represents an increase of approximately 54% compared to the typical daily volume of 62,669 call options.

TeraWulf Trading Up 11.0 %

NASDAQ:WULF traded up $0.61 during trading hours on Wednesday, reaching $6.18. 43,404,831 shares of the stock were exchanged, compared to its average volume of 34,492,145. The firm has a 50 day simple moving average of $6.88 and a 200-day simple moving average of $5.52. TeraWulf has a 52 week low of $1.24 and a 52 week high of $9.30.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Rosenblatt Securities restated a "buy" rating and issued a $10.00 target price on shares of TeraWulf in a research note on Monday. Needham & Company LLC reissued a "buy" rating and issued a $9.50 price objective on shares of TeraWulf in a research report on Monday. Keefe, Bruyette & Woods initiated coverage on TeraWulf in a research note on Wednesday, January 8th. They set a "market perform" rating for the company. Stifel Canada cut TeraWulf from a "strong-buy" rating to a "moderate buy" rating in a research note on Tuesday, October 29th. Finally, Northland Securities restated an "outperform" rating and set a $10.00 price objective on shares of TeraWulf in a research note on Tuesday, December 24th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, TeraWulf presently has a consensus rating of "Buy" and an average target price of $8.64.

Institutional Investors Weigh In On TeraWulf

Several institutional investors and hedge funds have recently made changes to their positions in WULF. Aspect Partners LLC bought a new stake in TeraWulf during the third quarter valued at $26,000. Rosenberg Matthew Hamilton acquired a new position in shares of TeraWulf in the 4th quarter valued at about $32,000. Amalgamated Bank grew its position in shares of TeraWulf by 57.7% during the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company's stock valued at $35,000 after buying an additional 2,912 shares during the last quarter. FMR LLC grew its position in shares of TeraWulf by 22.0% during the 3rd quarter. FMR LLC now owns 7,803 shares of the company's stock valued at $37,000 after buying an additional 1,408 shares during the last quarter. Finally, KBC Group NV acquired a new stake in TeraWulf during the third quarter worth about $39,000. 62.49% of the stock is owned by institutional investors and hedge funds.

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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