TeraWulf Target of Unusually High Options Trading (NASDAQ:WULF)

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) was the target of some unusual options trading activity on Tuesday. Investors bought 60,080 call options on the company. This is an increase of 204% compared to the typical daily volume of 19,750 call options.

TeraWulf Price Performance

Shares of NASDAQ WULF traded up $0.58 during trading on Tuesday, hitting $4.80. 32,242,699 shares of the company were exchanged, compared to its average volume of 19,899,480. TeraWulf has a 1 year low of $0.89 and a 1 year high of $5.10. The firm's fifty day moving average price is $2.67 and its 200 day moving average price is $2.26.

TeraWulf (NASDAQ:WULF - Get Free Report) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.07). TeraWulf had a negative return on equity of 30.00% and a negative net margin of 56.70%. The company had revenue of $42.43 million for the quarter, compared to analysts' expectations of $41.86 million. Analysts forecast that TeraWulf will post -0.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WULF. B. Riley dropped their target price on TeraWulf from $4.00 to $3.00 and set a "buy" rating on the stock in a report on Friday, April 5th. Rosenblatt Securities began coverage on shares of TeraWulf in a research note on Tuesday, April 9th. They issued a "buy" rating and a $4.20 price objective on the stock. Cantor Fitzgerald initiated coverage on shares of TeraWulf in a research note on Tuesday, June 11th. They issued an "overweight" rating and a $7.00 target price for the company. Finally, Compass Point lowered their target price on shares of TeraWulf from $4.50 to $3.50 and set a "buy" rating on the stock in a report on Thursday, March 21st. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, TeraWulf currently has a consensus rating of "Buy" and an average target price of $4.16.

Insider Activity

In other TeraWulf news, Treasurer Kenneth J. Deane sold 69,996 shares of TeraWulf stock in a transaction on Friday, June 7th. The shares were sold at an average price of $3.25, for a total value of $227,487.00. Following the transaction, the treasurer now directly owns 337,245 shares in the company, valued at $1,096,046.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 24.88% of the company's stock.

Institutional Investors Weigh In On TeraWulf

A number of institutional investors and hedge funds have recently modified their holdings of the company. Swiss National Bank purchased a new stake in TeraWulf during the third quarter worth $294,000. Luminus Management LLC increased its holdings in TeraWulf by 97.4% during the 3rd quarter. Luminus Management LLC now owns 1,099,393 shares of the company's stock valued at $1,385,000 after acquiring an additional 542,496 shares in the last quarter. Quadrature Capital Ltd acquired a new position in TeraWulf during the third quarter worth about $144,000. Axxcess Wealth Management LLC lifted its holdings in shares of TeraWulf by 356.2% in the third quarter. Axxcess Wealth Management LLC now owns 1,000,000 shares of the company's stock valued at $1,260,000 after purchasing an additional 780,786 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its position in shares of TeraWulf by 37.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,672,844 shares of the company's stock valued at $4,015,000 after purchasing an additional 459,997 shares during the last quarter. Institutional investors and hedge funds 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.