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

TeraWulf Inc. (NASDAQ:WULF) was the target of unusually large options trading on Monday. Stock traders purchased 77,288 call options on the stock. This is an increase of approximately 37% compared to the typical volume of 56,351 call options.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Stifel Canada cut shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $10.00 price target on shares of TeraWulf in a report on Thursday, December 5th. Needham & Company LLC raised their price objective on shares of TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $11.00 target price on shares of TeraWulf in a research note on Wednesday, December 4th. Finally, Northland Securities reissued an “outperform” rating and issued a $10.00 price target on shares of TeraWulf in a report on Tuesday. Seven investment 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 currently has a consensus rating of “Buy” and a consensus price target of $8.64.

TeraWulf Trading Up 7.2 %

Shares of WULF opened at $6.23 on Wednesday. TeraWulf has a fifty-two week low of $1.24 and a fifty-two week high of $9.30. The stock has a fifty day moving average of $6.98 and a two-hundred day moving average of $5.33.

Institutional Investors Weigh In On TeraWulf

Hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its stake in TeraWulf by 258.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock worth $11,063,000 after buying an additional 1,704,013 shares during the last quarter. State Street Corp lifted its holdings in shares of TeraWulf by 3.8% during the 3rd quarter. State Street Corp now owns 6,283,196 shares of the company’s stock worth $29,405,000 after acquiring an additional 227,186 shares during the period. Intech Investment Management LLC acquired a new stake in shares of TeraWulf in the third quarter worth approximately $340,000. Bank of New York Mellon Corp grew its holdings in TeraWulf by 97.8% in the second quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock valued at $3,757,000 after purchasing an additional 417,369 shares during the period. Finally, Central Asset Investments & Management Holdings HK Ltd acquired a new position in TeraWulf during the second quarter worth approximately $1,095,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

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.