Traders Buy High Volume of Call Options on TeraWulf (NASDAQ:WULF)

TeraWulf Inc. (NASDAQ:WULF) was the target of unusually large options trading on Wednesday. Traders bought 107,802 call options on the company. This represents an increase of 137% compared to the typical daily volume of 45,580 call options.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on WULF shares. Rosenblatt Securities lowered their price target on TeraWulf from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Monday, May 12th. Citizens Jmp upgraded TeraWulf to a “strong-buy” rating and set a $7.00 price target on the stock in a research note on Thursday, May 22nd. JMP Securities started coverage on TeraWulf in a research note on Thursday, May 22nd. They set a “market outperform” rating and a $7.00 price target on the stock. Finally, Jones Trading started coverage on TeraWulf in a research note on Monday, March 31st. They set a “buy” rating and a $4.00 price target on the stock. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, TeraWulf has a consensus rating of “Buy” and an average target price of $7.67.

TeraWulf Price Performance

Shares of WULF opened at $4.24 on Thursday. The company has a market capitalization of $1.63 billion, a P/E ratio of -12.85 and a beta of 3.00. TeraWulf has a one year low of $2.06 and a one year high of $9.30. The business’s 50 day simple moving average is $3.11 and its 200-day simple moving average is $4.60.

TeraWulf (NASDAQ:WULF) last announced its earnings results on Friday, May 9th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The business had revenue of $34.41 million during the quarter, compared to analyst estimates of $45.72 million. TeraWulf had a negative return on equity of 15.91% and a negative net margin of 41.88%. TeraWulf’s quarterly revenue was down 18.9% on a year-over-year basis. On average, sell-side analysts anticipate that TeraWulf will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in TeraWulf by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 23,880,134 shares of the company’s stock worth $65,193,000 after buying an additional 534,315 shares in the last quarter. Driehaus Capital Management LLC lifted its holdings in TeraWulf by 3.4% during the 4th quarter. Driehaus Capital Management LLC now owns 12,733,291 shares of the company’s stock worth $72,070,000 after buying an additional 412,877 shares in the last quarter. Geode Capital Management LLC lifted its holdings in TeraWulf by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 7,636,552 shares of the company’s stock worth $43,232,000 after buying an additional 453,429 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in TeraWulf by 21.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,369,381 shares of the company’s stock worth $30,387,000 after buying an additional 955,795 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in TeraWulf by 74.2% during the 4th quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company’s stock worth $26,964,000 after buying an additional 2,028,383 shares in the last quarter. 62.49% of the stock is owned by institutional investors and hedge funds.

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.