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

TeraWulf Inc. (NASDAQ:WULF) was the recipient of unusually large options trading on Friday. Investors purchased 42,022 call options on the stock. This represents an increase of 58% compared to the average volume of 26,516 call options.

TeraWulf Trading Down 2.4 %

Shares of TeraWulf stock opened at $4.42 on Friday. TeraWulf has a 52-week low of $0.89 and a 52-week high of $6.51. The stock has a 50-day simple moving average of $4.08 and a 200-day simple moving average of $2.77.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.07). The firm had revenue of $42.43 million for the quarter, compared to analyst estimates of $41.86 million. TeraWulf had a negative net margin of 56.70% and a negative return on equity of 30.00%. Equities research analysts expect that TeraWulf will post -0.07 EPS for the current fiscal year.

Insider Buying and Selling

In other TeraWulf news, Treasurer Kenneth J. Deane sold 69,996 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $3.25, for a total value of $227,487.00. Following the sale, the treasurer now directly owns 337,245 shares of the company’s stock, valued at $1,096,046.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 24.88% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. ARS Investment Partners LLC acquired a new stake in TeraWulf in the 2nd quarter valued at $44,000. Miracle Mile Advisors LLC acquired a new stake in TeraWulf in the 1st quarter valued at $29,000. Apollon Wealth Management LLC acquired a new stake in TeraWulf in the 4th quarter valued at $27,000. Partners Capital Investment Group LLP acquired a new stake in TeraWulf in the 4th quarter valued at $29,000. Finally, Global Retirement Partners LLC acquired a new stake in TeraWulf in the 4th quarter valued at $30,000. 62.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on WULF shares. Rosenblatt Securities started coverage on TeraWulf in a report on Tuesday, April 9th. They set a “buy” rating and a $4.20 price target on the stock. Roth Capital raised TeraWulf to a “strong-buy” rating in a report on Tuesday, July 2nd. B. Riley lifted their target price on TeraWulf from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Cantor Fitzgerald lifted their target price on TeraWulf from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Friday, July 5th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $6.50 target price on shares of TeraWulf in a report on Monday, July 8th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $5.53.

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.