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

TeraWulf Inc. (NASDAQ:WULF) was the target of unusually large options trading activity on Monday. Stock investors bought 26,556 call options on the company. This is an increase of 67% compared to the typical volume of 15,927 call options.

Hedge Funds Weigh In On TeraWulf

Large investors have recently made changes to their positions in the company. Van ECK Associates Corp boosted its position in TeraWulf by 83.4% in the 4th quarter. Van ECK Associates Corp now owns 4,464,309 shares of the company’s stock valued at $10,714,000 after buying an additional 2,029,641 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in TeraWulf by 126.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,457,169 shares of the company’s stock valued at $5,897,000 after buying an additional 1,372,195 shares during the period. Exchange Traded Concepts LLC boosted its position in TeraWulf by 37.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,672,844 shares of the company’s stock valued at $4,015,000 after buying an additional 459,997 shares during the period. GM Advisory Group LLC boosted its position in TeraWulf by 3.3% in the 4th quarter. GM Advisory Group LLC now owns 1,237,912 shares of the company’s stock valued at $2,971,000 after buying an additional 39,617 shares during the period. Finally, Luminus Management LLC boosted its position in TeraWulf by 97.4% in the 3rd quarter. Luminus Management LLC now owns 1,099,393 shares of the company’s stock valued at $1,385,000 after buying an additional 542,496 shares during the period. 62.49% of the stock is owned by hedge funds and other institutional investors.

TeraWulf Stock Up 12.7 %

WULF stock opened at $2.58 on Tuesday. TeraWulf has a 12 month low of $0.89 and a 12 month high of $4.04. The company has a 50-day moving average price of $2.17 and a 200 day moving average price of $1.76.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. B. Riley dropped their price objective on shares of TeraWulf from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Compass Point dropped their price objective on shares of TeraWulf from $4.50 to $3.50 and set a “buy” rating for the company in a research note on Thursday, March 21st. Rosenblatt Securities assumed coverage on shares of TeraWulf in a research note on Tuesday, April 9th. They issued a “buy” rating and a $4.20 price objective for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $4.00 price objective on shares of TeraWulf in a research note on Thursday, March 28th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $3.66.

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.