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

TeraWulf Inc. (NASDAQ:WULF) was the recipient of unusually large options trading activity on Monday. Stock traders acquired 26,556 call options on the stock. This is an increase of approximately 67% compared to the average volume of 15,927 call options.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WULF. Cantor Fitzgerald restated an “overweight” rating and issued a $4.00 target price on shares of TeraWulf in a research note on Thursday, March 28th. Compass Point cut their price objective on TeraWulf from $4.50 to $3.50 and set a “buy” rating for the company in a report on Thursday, March 21st. Rosenblatt Securities initiated coverage on TeraWulf in a report on Tuesday, April 9th. They set a “buy” rating and a $4.20 price objective on the stock. Finally, B. Riley reduced their price target on shares of TeraWulf from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $3.66.

Institutional Trading of TeraWulf

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WULF. Van ECK Associates Corp grew its stake in TeraWulf by 83.4% in the fourth quarter. Van ECK Associates Corp now owns 4,464,309 shares of the company’s stock worth $10,714,000 after purchasing an additional 2,029,641 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in TeraWulf by 126.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,457,169 shares of the company’s stock worth $5,897,000 after purchasing an additional 1,372,195 shares during the last quarter. Exchange Traded Concepts LLC increased its position in shares of TeraWulf by 37.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,672,844 shares of the company’s stock valued at $4,015,000 after purchasing an additional 459,997 shares during the last quarter. GM Advisory Group LLC lifted its stake in shares of TeraWulf by 3.3% in the 4th quarter. GM Advisory Group LLC now owns 1,237,912 shares of the company’s stock worth $2,971,000 after purchasing an additional 39,617 shares during the period. Finally, Luminus Management LLC raised its position in TeraWulf by 97.4% in the third quarter. Luminus Management LLC now owns 1,099,393 shares of the company’s stock worth $1,385,000 after acquiring an additional 542,496 shares during the period. Hedge funds and other institutional investors own 62.49% of the company’s stock.

TeraWulf Stock Up 12.7 %

Shares of NASDAQ WULF traded up $0.29 during trading hours on Monday, hitting $2.58. The company’s stock had a trading volume of 24,177,266 shares, compared to its average volume of 19,869,275. TeraWulf has a 12 month low of $0.89 and a 12 month high of $4.04. The business has a 50-day simple moving average of $2.17 and a 200-day simple moving average of $1.75.

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.