TeraWulf Target of Unusually Large Options Trading (NASDAQ:WULF)

TeraWulf Inc. (NASDAQ:WULF) was the target of some unusual options trading on Monday. Stock traders purchased 26,556 call options on the stock. This represents an increase of 67% compared to the average daily volume of 15,927 call options.

Institutional Investors Weigh In On TeraWulf

Institutional investors and hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp boosted its position in shares of TeraWulf by 83.4% during the 4th quarter. Van ECK Associates Corp now owns 4,464,309 shares of the company’s stock valued at $10,714,000 after purchasing an additional 2,029,641 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of 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 raised its stake in shares of TeraWulf by 37.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,672,844 shares of the company’s stock worth $4,015,000 after purchasing an additional 459,997 shares during the last quarter. GM Advisory Group LLC raised its stake in shares of TeraWulf by 3.3% in the fourth 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 last quarter. Finally, Luminus Management LLC raised its stake in shares of 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 purchasing an additional 542,496 shares during the last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.

Wall Street Analysts Forecast Growth

WULF has been the subject of several recent research reports. B. Riley reduced their price target on TeraWulf from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $4.00 target price on shares of TeraWulf in a research report on Thursday, March 28th. Compass Point cut their target price on TeraWulf from $4.50 to $3.50 and set a “buy” rating for the company in a research report on Thursday, March 21st. Finally, Rosenblatt Securities began coverage on TeraWulf in a research report on Tuesday, April 9th. They set a “buy” rating and a $4.20 target price for the company. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $3.66.

TeraWulf Stock Up 5.0 %

Shares of WULF opened at $2.71 on Wednesday. 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 $2.18 and a two-hundred day simple moving average of $1.77.

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.