TeraWulf (NASDAQ:WULF) Stock Sees Unusually High Call Option Buying

TeraWulf Inc. (NASDAQ:WULF) was the recipient of unusually large options trading on Thursday. Traders purchased 346,796 call options on the company. This represents an increase of 108% compared to the typical volume of 167,074 call options.

Insider Activity

In related news, Director Walter Carter sold 130,626 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $15.14, for a total transaction of $1,977,677.64. Following the transaction, the director directly owned 229,090 shares of the company’s stock, valued at approximately $3,468,422.60. This trade represents a 36.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael Bucella bought 6,085 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was purchased at an average price of $14.79 per share, with a total value of $89,997.15. Following the transaction, the director directly owned 350,789 shares in the company, valued at $5,188,169.31. The trade was a 1.77% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have bought 11,968 shares of company stock worth $189,962. 15.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TeraWulf

Institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in TeraWulf during the 2nd quarter valued at $577,805,000. Bank of America Corp DE bought a new stake in TeraWulf in the 2nd quarter valued at $140,057,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of TeraWulf in the second quarter worth about $61,962,000. Jennison Associates LLC purchased a new stake in shares of TeraWulf during the 1st quarter worth approximately $53,418,000. Finally, Engle Capital Management L.P. lifted its position in TeraWulf by 574.3% during the first quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company’s stock valued at $42,570,000 after purchasing an additional 2,512,600 shares during the last quarter. 62.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings cut shares of TeraWulf from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 2nd. Keefe, Bruyette & Woods cut their price target on shares of TeraWulf from $33.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, July 28th. HC Wainwright reiterated a “buy” rating on shares of TeraWulf in a research report on Friday, August 21st. B. Riley Financial upped their price target on shares of TeraWulf from $32.00 to $40.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Finally, William Blair started coverage on shares of TeraWulf in a report on Friday, August 28th. They set an “outperform” rating for the company. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.33.

TeraWulf Stock Down 5.1%

Shares of WULF stock traded down $0.73 during midday trading on Thursday, reaching $13.66. 31,198,207 shares of the stock were exchanged, compared to its average volume of 31,207,561. TeraWulf has a 1 year low of $10.47 and a 1 year high of $29.84. The firm has a market cap of $6.82 billion, a PE ratio of -3.12 and a beta of 3.80. The company’s 50 day moving average is $16.27 and its two-hundred day moving average is $19.75. 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 (NASDAQ:WULF) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) 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 firm had revenue of $44.77 million for the quarter, compared to analysts’ expectations of $46.00 million. During the same period in the prior year, the business posted ($0.05) EPS. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. On average, equities research analysts predict that TeraWulf will post -1 EPS for the current year.

About TeraWulf

TeraWulf, Inc is a digital infrastructure company that develops and operates energy-intensive computing facilities in the United States. The company has primarily focused on bitcoin mining, using specialized application-specific integrated circuit (ASIC) hardware and power infrastructure to support cryptocurrency production.

TeraWulf emphasizes the use of low-carbon energy sources, including nuclear and hydropower, as part of its strategy to reduce the environmental impact of its operations.