TeraWulf Sees Unusually Large Options Volume (NASDAQ:WULF)

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) was the target of some unusual options trading activity on Thursday. Stock traders bought 109,129 call options on the stock. This represents an increase of 153% compared to the typical daily volume of 43,092 call options.

TeraWulf Stock Down 5.4 %

Shares of TeraWulf stock traded down $0.37 on Thursday, hitting $6.52. 23,422,477 shares of the company's stock traded hands, compared to its average volume of 20,789,764. TeraWulf has a one year low of $0.89 and a one year high of $7.28. The company has a fifty day moving average of $4.77 and a two-hundred day moving average of $3.98.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter. The firm had revenue of $35.57 million during the quarter, compared to the consensus estimate of $35.73 million. TeraWulf had a negative return on equity of 19.77% and a negative net margin of 41.67%. Equities research analysts anticipate that TeraWulf will post -0.1 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aspect Partners LLC bought a new position in shares of TeraWulf in the third quarter valued at approximately $26,000. Miracle Mile Advisors LLC purchased a new stake in shares of TeraWulf during the first quarter valued at approximately $29,000. Amalgamated Bank increased its position in shares of TeraWulf by 57.7% during the second quarter. Amalgamated Bank now owns 7,963 shares of the company's stock valued at $35,000 after acquiring an additional 2,912 shares during the last quarter. ARS Investment Partners LLC purchased a new stake in shares of TeraWulf during the second quarter valued at approximately $44,000. Finally, Pekin Hardy Strauss Inc. purchased a new stake in shares of TeraWulf during the second quarter valued at approximately $44,000. Institutional investors own 62.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $10.00 price objective on shares of TeraWulf in a research report on Thursday, October 3rd. Stifel Canada cut shares of TeraWulf from a "strong-buy" rating to a "moderate buy" rating in a report on Tuesday. Needham & Company LLC initiated coverage on shares of TeraWulf in a report on Wednesday, September 4th. They issued a "buy" rating and a $6.00 target price for the company. B. Riley reissued a "buy" rating and issued a $6.00 target price on shares of TeraWulf in a report on Monday, October 7th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $5.00 target price on shares of TeraWulf in a report on Tuesday, October 8th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $6.17.

TeraWulf Company Profile

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.