TeraWulf Sees Unusually Large Options Volume (NASDAQ:WULF)

TeraWulf Inc. (NASDAQ:WULF) was the target of unusually large options trading activity on Wednesday. Traders bought 96,538 call options on the company. This is an increase of 54% compared to the typical daily volume of 62,669 call options.

TeraWulf Stock Up 11.0 %

Shares of TeraWulf stock opened at $6.18 on Thursday. The stock has a 50 day moving average price of $6.88 and a two-hundred day moving average price of $5.52. TeraWulf has a 12-month low of $1.24 and a 12-month high of $9.30.

Wall Street Analyst Weigh In

WULF has been the topic of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and set a $9.50 target price on shares of TeraWulf in a research report on Monday. Northland Securities reiterated an “outperform” rating and set a $10.00 target price on shares of TeraWulf in a research note on Tuesday, December 24th. Keefe, Bruyette & Woods began coverage on shares of TeraWulf in a research note on Wednesday, January 8th. They set a “market perform” rating for the company. Rosenblatt Securities restated a “buy” rating and set a $10.00 price target on shares of TeraWulf in a research report on Monday. Finally, Stifel Canada lowered shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $8.64.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in TeraWulf by 258.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock worth $11,063,000 after purchasing an additional 1,704,013 shares during the period. State Street Corp raised its stake in TeraWulf by 3.8% during the third quarter. State Street Corp now owns 6,283,196 shares of the company’s stock worth $29,405,000 after acquiring an additional 227,186 shares in the last quarter. Intech Investment Management LLC acquired a new position in TeraWulf during the third quarter worth $340,000. Barclays PLC raised its stake in TeraWulf by 419.7% during the third quarter. Barclays PLC now owns 424,748 shares of the company’s stock worth $1,989,000 after acquiring an additional 343,016 shares in the last quarter. Finally, Central Asset Investments & Management Holdings HK Ltd acquired a new position in TeraWulf during the second quarter worth $1,095,000. 62.49% of the stock is owned by institutional investors.

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.