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

TeraWulf Inc. (NASDAQ:WULF) was the recipient of some unusual options trading on Friday. Traders bought 82,022 call options on the stock. This is an increase of approximately 61% compared to the average daily volume of 51,033 call options.

Institutional Trading of TeraWulf

Hedge funds and other institutional investors have recently made changes to their positions in the business. Aspect Partners LLC acquired a new stake in TeraWulf in the third quarter worth about $26,000. FMR LLC increased its position in shares of TeraWulf by 22.0% during the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after purchasing an additional 1,408 shares during the last quarter. Amalgamated Bank increased its holdings in shares of TeraWulf by 57.7% during the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock worth $35,000 after acquiring an additional 2,912 shares during the last quarter. KBC Group NV bought a new stake in TeraWulf in the 3rd quarter valued at $39,000. Finally, ARS Investment Partners LLC bought a new stake in TeraWulf in the 2nd quarter valued at $44,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.

TeraWulf Trading Up 5.3 %

Shares of TeraWulf stock opened at $8.12 on Friday. TeraWulf has a 12-month low of $1.24 and a 12-month high of $9.30. The company has a 50-day simple moving average of $6.35 and a 200 day simple moving average of $4.92.

Wall Street Analyst Weigh In

WULF has been the topic of a number of research reports. Needham & Company LLC boosted their price objective on TeraWulf from $6.00 to $9.50 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 price target on shares of TeraWulf in a report on Wednesday. Northland Securities raised their price objective on shares of TeraWulf from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Stifel Canada cut shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. Finally, Rosenblatt Securities restated a “buy” rating and set a $10.00 price target on shares of TeraWulf in a research note on Thursday. Seven research 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, TeraWulf has an average rating of “Buy” and a consensus target price of $8.07.

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.