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

TeraWulf Inc. (NASDAQ:WULF) was the target of unusually large options trading on Monday. Investors bought 236,299 call options on the company. This is an increase of 52% compared to the typical daily volume of 155,359 call options.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WULF. Jefferies Financial Group began coverage on TeraWulf in a research note on Thursday, May 14th. They set a “buy” rating and a $28.00 target price on the stock. B. Riley Financial boosted their target price on TeraWulf from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Morgan Stanley set a $66.50 target price on TeraWulf in a research note on Wednesday, June 3rd. Arete Research began coverage on TeraWulf in a research note on Monday, March 23rd. They set a “buy” rating and a $30.00 target price on the stock. Finally, Lucid Cap Mkts raised TeraWulf to a “strong-buy” rating in a research note on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.86.

Insiders Place Their Bets

In other TeraWulf news, Director Michael C. Bucella purchased 1,665 shares of the stock in a transaction on Friday, March 20th. The stock was acquired at an average price of $15.04 per share, with a total value of $25,041.60. Following the transaction, the director directly owned 280,052 shares of the company’s stock, valued at approximately $4,211,982.08. This trade represents a 0.60% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Paul B. Prager sold 166,650 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $24.43, for a total value 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. The trade was 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. In the last ninety days, insiders have purchased 6,500 shares of company stock valued at $100,333 and have sold 1,120,850 shares valued at $20,462,114. Insiders own 15.90% of the company’s stock.

Institutional Trading of TeraWulf

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of 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 last quarter. Bank of America Corp DE grew its stake in shares of TeraWulf by 22.2% in the second quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock worth $63,038,000 after acquiring an additional 2,617,617 shares during the last quarter. Morgan Stanley grew its stake in shares of TeraWulf by 8.1% in the fourth quarter. Morgan Stanley now owns 9,641,209 shares of the company’s stock worth $110,778,000 after acquiring an additional 724,286 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of TeraWulf by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company’s stock worth $96,274,000 after acquiring an additional 318,842 shares during the last quarter. Finally, State Street Corp grew its stake in shares of TeraWulf by 4.2% in the fourth quarter. State Street Corp now owns 7,349,508 shares of the company’s stock worth $84,446,000 after acquiring an additional 298,645 shares during the last quarter. Hedge funds and other institutional investors own 62.49% of the company’s stock.

TeraWulf Stock Up 8.2%

WULF stock traded up $2.13 during midday trading on Monday, hitting $28.19. The stock had a trading volume of 23,973,547 shares, compared to its average volume of 30,658,223. The firm has a market cap of $13.97 billion, a price-to-earnings ratio of -11.37 and a beta of 3.82. The business has a 50-day moving average of $22.12 and a two-hundred day moving average of $17.13. TeraWulf has a 52-week low of $3.39 and a 52-week high of $28.45. The company has a debt-to-equity ratio of 33.00, a current ratio of 1.20 and a quick ratio of 1.20.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings results on Friday, May 8th. The company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.82). The firm had revenue of $34.01 million during the quarter, compared to analysts’ expectations of $34.69 million. TeraWulf had a negative return on equity of 305.07% and a negative net margin of 611.46%.TeraWulf’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.16) earnings per share. As a group, equities research analysts forecast that TeraWulf will post -0.96 earnings per share for the current fiscal year.

TeraWulf Company Profile

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.