TeraWulf Sees Unusually Large Options Volume (NASDAQ:WULF)

TeraWulf Inc. (NASDAQ:WULF) was the target of unusually large options trading on Friday. Traders acquired 82,022 call options on the stock. This is an increase of approximately 61% compared to the average daily volume of 51,033 call options.

Analyst Upgrades and Downgrades

Several research analysts have commented on WULF shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $10.00 price target on shares of TeraWulf in a research report on Thursday. B. Riley reaffirmed a “buy” rating and set a $6.00 target price on shares of TeraWulf in a research report on Monday, October 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 price target on shares of TeraWulf in a report on Wednesday. Needham & Company LLC raised their price target on shares of TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Stifel Canada lowered shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $8.07.

TeraWulf Price Performance

Shares of TeraWulf stock traded up $1.15 during trading on Friday, hitting $8.86. 15,100,761 shares of the company’s stock traded hands, compared to its average volume of 21,297,521. The firm’s fifty day moving average price is $6.29 and its 200 day moving average price is $4.88. TeraWulf has a twelve month low of $1.24 and a twelve month high of $9.30.

Institutional Investors Weigh In On TeraWulf

A number of institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of TeraWulf by 22.0% during the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after buying an additional 1,408 shares during the period. Chesapeake Capital Corp IL lifted its position in TeraWulf by 6.6% during the 3rd quarter. Chesapeake Capital Corp IL now owns 27,500 shares of the company’s stock worth $136,000 after buying an additional 1,700 shares in the last quarter. Amalgamated Bank grew its stake in shares of TeraWulf by 57.7% during the second quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after purchasing an additional 2,912 shares during the last quarter. Victory Capital Management Inc. boosted its position in TeraWulf by 13.3% in the 3rd quarter. Victory Capital Management Inc. now owns 34,866 shares of the company’s stock valued at $163,000 after buying an additional 4,093 shares during the last quarter. Finally, Aspect Partners LLC acquired a new stake in TeraWulf in the third quarter worth about $26,000. 62.49% of the stock is owned by institutional investors and hedge funds.

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.