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

TeraWulf Inc. (NASDAQ:WULF) was the target of some unusual options trading activity on Tuesday. Stock traders bought 267,907 call options on the stock. This represents an increase of approximately 77% compared to the typical volume of 151,615 call options.

Insider Buying and Selling at TeraWulf

In other TeraWulf news, CFO Patrick Fleury sold 573,586 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $16.14, for a total transaction of $9,257,678.04. Following the completion of the transaction, the chief financial officer owned 3,205,000 shares in the company, valued at $51,728,700. This trade represents a 15.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Paul B. Prager sold 137,500 shares of the stock in a transaction on Monday, April 27th. The shares were sold at an average price of $20.80, for a total transaction of $2,860,000.00. Following the transaction, the chief executive officer owned 963,520 shares of the company’s stock, valued at $20,041,216. This trade represents a 12.49% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders acquired 13,094 shares of company stock worth $200,392 and sold 954,200 shares worth $16,390,854. 15.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in 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 period. Bank of America Corp DE increased its stake in TeraWulf by 22.2% in the 2nd quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock worth $63,038,000 after buying an additional 2,617,617 shares during the period. Morgan Stanley increased its stake in TeraWulf by 8.1% in the 4th quarter. Morgan Stanley now owns 9,641,209 shares of the company’s stock worth $110,778,000 after buying an additional 724,286 shares during the period. Geode Capital Management LLC increased its stake in TeraWulf by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company’s stock worth $96,274,000 after buying an additional 318,842 shares during the period. Finally, State Street Corp increased its stake in TeraWulf by 4.2% in the 4th quarter. State Street Corp now owns 7,349,508 shares of the company’s stock worth $84,446,000 after buying an additional 298,645 shares during the period. Hedge funds and other institutional investors own 62.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on WULF shares. Northland Securities set a $30.00 target price on shares of TeraWulf in a research note on Monday, May 4th. Morgan Stanley increased their target price on shares of TeraWulf to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. Needham & Company LLC increased their target price on shares of TeraWulf from $22.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Keefe, Bruyette & Woods increased their target price on shares of TeraWulf from $25.00 to $33.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Finally, Roth Mkm reissued a “buy” rating and issued a $32.00 target price on shares of TeraWulf in a research note on Friday, April 17th. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.59.

TeraWulf Trading Up 12.2%

Shares of WULF traded up $2.79 during midday trading on Tuesday, hitting $25.61. The stock had a trading volume of 38,321,988 shares, compared to its average volume of 31,122,318. TeraWulf has a 1 year low of $3.39 and a 1 year high of $25.93. The firm has a market cap of $12.69 billion, a PE ratio of -10.33 and a beta of 3.84. The company has a debt-to-equity ratio of 33.00, a current ratio of 1.20 and a quick ratio of 1.20. The stock’s 50 day moving average is $19.27 and its 200 day moving average is $15.85.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings results on Friday, May 8th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.82). The company 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%.The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.16) EPS. As a group, analysts forecast that TeraWulf will post -0.53 EPS 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.