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

TeraWulf Inc. (NASDAQ:WULF) saw unusually large options trading on Thursday. Traders bought 229,632 put options on the company. This represents an increase of 28% compared to the average volume of 179,937 put options.

TeraWulf Stock Performance

NASDAQ WULF traded up $0.95 during trading on Thursday, reaching $16.45. The company’s stock had a trading volume of 32,215,984 shares, compared to its average volume of 31,785,053. The firm has a 50 day moving average price of $21.14 and a 200 day moving average price of $19.63. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 27.25. TeraWulf has a 12 month low of $8.60 and a 12 month high of $29.84. The firm has a market capitalization of $8.21 billion, a price-to-earnings ratio of -3.76 and a beta of 3.76.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($1.70). TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The company had revenue of $44.77 million for the quarter, compared to the consensus estimate of $46.00 million. During the same period last year, the firm posted ($0.05) earnings per share. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, equities analysts anticipate that TeraWulf will post -0.94 EPS for the current fiscal year.

Insider Buying and Selling at TeraWulf

In other news, Director Michael C. Bucella purchased 3,023 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were bought at an average cost of $16.54 per share, with a total value of $50,000.42. Following the purchase, the director directly owned 341,844 shares of the company’s stock, valued at approximately $5,654,099.76. This trade represents a 0.89% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Paul B. Prager sold 166,650 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $24.43, for a total transaction of $4,071,259.50. Following the transaction, the chief executive officer directly owned 4,249,202 shares of the company’s stock, valued at $103,808,004.86. This trade represents a 3.77% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 15.90% of the company’s stock.

Institutional Investors Weigh In On TeraWulf

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of TeraWulf during the second quarter worth approximately $577,805,000. Vanguard Group Inc. lifted its holdings in TeraWulf by 37.4% in the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock worth $386,558,000 after buying an additional 9,162,958 shares during the period. Voloridge Investment Management LLC bought a new position in TeraWulf in the 3rd quarter worth $69,006,000. Bank of America Corp DE purchased a new stake in TeraWulf in the second quarter worth about $140,057,000. Finally, Wellington Management Group LLP boosted its position in shares of TeraWulf by 36,193.2% during the third quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock valued at $44,559,000 after purchasing an additional 3,891,127 shares in the last quarter. Institutional investors own 62.49% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on WULF. Rosenblatt Securities restated a “buy” rating and set a $30.00 price target on shares of TeraWulf in a research report on Thursday, August 6th. Sanford C. Bernstein assumed coverage on shares of TeraWulf in a research note on Wednesday, June 3rd. They set an “outperform” rating and a $46.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TeraWulf in a report on Wednesday, June 24th. Cantor Fitzgerald restated an “overweight” rating and set a $37.00 price target on shares of TeraWulf in a research note on Wednesday, July 15th. Finally, Chardan Capital restated a “buy” rating and issued a $32.00 price objective on shares of TeraWulf in a research report on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.21.

About TeraWulf

TeraWulf, Inc (NASDAQ: WULF) is a digital asset infrastructure company focused on the development and operation of zero-carbon bitcoin mining facilities. The company integrates sustainable power generation with high-density data center technologies to deliver environmentally responsible digital asset mining services. Its core business revolves around designing, building and operating large-scale mining projects powered exclusively by renewable or emissions-free energy sources.

One of TeraWulf’s flagship projects is “Project Nautilus,” located in Tompkins County, New York, which harnesses hydroelectric power sourced from the New York State Electric & Gas (NYSEG) grid.