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

TeraWulf Inc. (NASDAQ:WULF) was the recipient of unusually large options trading on Monday. Traders purchased 77,288 call options on the stock. This is an increase of approximately 37% compared to the average daily volume of 56,351 call options.

Institutional Investors Weigh In On TeraWulf

A number of large investors have recently made changes to their positions in WULF. Point72 Asset Management L.P. purchased a new stake in TeraWulf in the second quarter worth about $22,443,000. Hood River Capital Management LLC purchased a new stake in TeraWulf in the 2nd quarter worth approximately $20,532,000. Driehaus Capital Management LLC purchased a new stake in TeraWulf in the 2nd quarter worth approximately $9,948,000. Duquesne Family Office LLC bought a new stake in TeraWulf during the 2nd quarter worth approximately $9,301,000. Finally, Zweig DiMenna Associates LLC purchased a new position in TeraWulf during the third quarter valued at approximately $9,489,000. 62.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WULF has been the topic of a number of recent analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $10.00 price target on shares of TeraWulf in a report on Thursday, December 5th. Needham & Company LLC upped 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. Northland Securities lifted their target price on TeraWulf from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Stifel Canada downgraded TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, October 29th. Finally, B. Riley increased their price objective on TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, TeraWulf currently has a consensus rating of “Buy” and an average price target of $8.64.

TeraWulf Stock Performance

Shares of WULF traded down $1.03 during trading hours on Monday, hitting $5.58. The stock had a trading volume of 28,280,450 shares, compared to its average volume of 21,538,516. TeraWulf has a 12 month low of $1.24 and a 12 month high of $9.30. The stock has a fifty day moving average price of $6.95 and a 200 day moving average price of $5.32.

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.