TeraWulf Sees Unusually High Options Volume (NASDAQ:WULF)

TeraWulf Inc. (NASDAQ:WULF) was the target of unusually large options trading on Friday. Stock traders bought 42,022 call options on the stock. This is an increase of approximately 58% compared to the average daily volume of 26,516 call options.

TeraWulf Stock Down 2.4 %

Shares of NASDAQ WULF traded down $0.11 during trading hours on Friday, reaching $4.42. The stock had a trading volume of 17,160,201 shares, compared to its average volume of 20,154,963. The business’s fifty day moving average price is $4.03 and its two-hundred day moving average price is $2.76. TeraWulf has a 52-week low of $0.89 and a 52-week high of $6.51.

TeraWulf (NASDAQ:WULF) last released its earnings results on Monday, May 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.07). TeraWulf had a negative net margin of 56.70% and a negative return on equity of 30.00%. The firm had revenue of $42.43 million during the quarter, compared to analyst estimates of $41.86 million. Sell-side analysts expect that TeraWulf will post -0.07 earnings per share for the current year.

Analysts Set New Price Targets

WULF has been the subject of several recent research reports. Roth Capital upgraded TeraWulf to a “strong-buy” rating in a research report on Tuesday, July 2nd. Cantor Fitzgerald upped their price objective on TeraWulf from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Friday, July 5th. Roth Mkm reissued a “buy” rating and issued a $6.50 target price on shares of TeraWulf in a research note on Monday, July 8th. Rosenblatt Securities initiated coverage on TeraWulf in a research report on Tuesday, April 9th. They set a “buy” rating and a $4.20 price target for the company. Finally, B. Riley upped their target price on TeraWulf from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $5.53.

Insider Buying and Selling

In related news, Treasurer Kenneth J. Deane sold 69,996 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $3.25, for a total transaction of $227,487.00. Following the completion of the sale, the treasurer now owns 337,245 shares of the company’s stock, valued at $1,096,046.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 24.88% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WULF. ARS Investment Partners LLC acquired a new stake in TeraWulf in the 2nd quarter valued at approximately $44,000. Miracle Mile Advisors LLC acquired a new position in shares of TeraWulf during the first quarter worth about $29,000. Apollon Wealth Management LLC acquired a new position in shares of TeraWulf during the fourth quarter worth about $27,000. Partners Capital Investment Group LLP acquired a new position in TeraWulf during the fourth quarter worth about $29,000. Finally, Global Retirement Partners LLC acquired a new position in TeraWulf during the fourth quarter worth about $30,000. 62.49% of the stock is owned by hedge funds and other institutional investors.

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.