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

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WULF. B. Riley increased their target price on shares of TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Rosenblatt Securities reissued a “buy” rating and issued a $10.00 target price on shares of TeraWulf in a research note on Thursday, December 5th. Northland Securities upped their price target on TeraWulf from $8.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Needham & Company LLC lifted their price objective on TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 target price on shares of TeraWulf in a report on Wednesday, December 4th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $8.64.

Hedge Funds Weigh In On TeraWulf

Several institutional investors have recently modified their holdings of the business. Geode Capital Management LLC increased its position in shares of TeraWulf by 12.9% in the 3rd quarter. Geode Capital Management LLC now owns 7,183,123 shares of the company’s stock valued at $33,623,000 after purchasing an additional 820,354 shares during the last quarter. State Street Corp increased its holdings in TeraWulf by 3.8% in the third quarter. State Street Corp now owns 6,283,196 shares of the company’s stock valued at $29,405,000 after buying an additional 227,186 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in TeraWulf in the second quarter valued at $22,443,000. Hood River Capital Management LLC purchased a new stake in TeraWulf during the 2nd quarter worth about $20,532,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of TeraWulf by 258.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock worth $11,063,000 after acquiring an additional 1,704,013 shares in the last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.

TeraWulf Stock Performance

Shares of WULF stock opened at $5.81 on Tuesday. TeraWulf has a fifty-two week low of $1.24 and a fifty-two week high of $9.30. The company has a 50 day moving average price of $6.95 and a 200 day moving average price of $5.32.

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.