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

TeraWulf Inc. (NASDAQ:WULF) saw unusually large options trading activity on Friday. Stock traders purchased 82,022 call options on the stock. This is an increase of 61% compared to the typical daily volume of 51,033 call options.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Aspect Partners LLC acquired a new position in TeraWulf during the third quarter valued at approximately $26,000. Amalgamated Bank lifted its position in TeraWulf by 57.7% during the second quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after buying an additional 2,912 shares in the last quarter. FMR LLC lifted its position in TeraWulf by 22.0% during the third quarter. FMR LLC now owns 7,803 shares of the company’s stock valued at $37,000 after buying an additional 1,408 shares in the last quarter. KBC Group NV acquired a new position in TeraWulf during the third quarter valued at approximately $39,000. Finally, ARS Investment Partners LLC acquired a new position in TeraWulf during the second quarter valued at approximately $44,000. 62.49% of the stock is owned by institutional investors and hedge funds.

TeraWulf Stock Up 5.3 %

Shares of WULF stock opened at $8.12 on Friday. TeraWulf has a fifty-two week low of $1.24 and a fifty-two week high of $9.30. The firm’s 50 day moving average price is $6.29 and its two-hundred day moving average price is $4.88.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 price target on shares of TeraWulf in a research note on Wednesday. B. Riley reissued a “buy” rating and issued a $6.00 target price on shares of TeraWulf in a research report on Monday, October 7th. Stifel Canada cut shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. Needham & Company LLC raised their target price on shares of TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Northland Securities raised their target price on shares of TeraWulf from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, TeraWulf currently has a consensus rating of “Buy” and a consensus price target 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.