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

TeraWulf Inc. (NASDAQ:WULF) saw some unusual options trading activity on Monday. Traders bought 77,288 call options on the company. This represents an increase of 37% compared to the average volume of 56,351 call options.

Wall Street Analyst Weigh In

WULF has been the subject of several recent research reports. Stifel Canada downgraded shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. Rosenblatt Securities reaffirmed a “buy” rating and set a $10.00 price objective on shares of TeraWulf in a research report on Thursday, December 5th. Needham & Company LLC lifted their target price on TeraWulf from $6.00 to $9.50 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald restated an “overweight” rating and set a $11.00 price target on shares of TeraWulf in a research note on Wednesday, December 4th. Finally, Northland Securities reaffirmed an “outperform” rating and set a $10.00 price target on shares of TeraWulf in a report on Tuesday. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $8.64.

Institutional Investors Weigh In On TeraWulf

Several institutional investors have recently made changes to their positions in WULF. Bank of New York Mellon Corp increased its holdings in shares of TeraWulf by 97.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock valued at $3,757,000 after purchasing an additional 417,369 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in TeraWulf in the second quarter valued at about $250,000. Principal Financial Group Inc. lifted its position in shares of TeraWulf by 75.6% during the 2nd quarter. Principal Financial Group Inc. now owns 30,529 shares of the company’s stock valued at $136,000 after acquiring an additional 13,142 shares during the period. Rhumbline Advisers boosted its stake in shares of TeraWulf by 66.8% during the 2nd quarter. Rhumbline Advisers now owns 299,545 shares of the company’s stock worth $1,333,000 after acquiring an additional 119,911 shares in the last quarter. Finally, Arizona State Retirement System acquired a new stake in shares of TeraWulf in the 2nd quarter worth approximately $282,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

TeraWulf Stock Performance

TeraWulf stock opened at $6.23 on Wednesday. The stock’s 50 day moving average price is $6.98 and its 200 day moving average price is $5.33. TeraWulf has a 1-year low of $1.24 and a 1-year high of $9.30.

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.