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

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

TeraWulf Stock Up 5.3 %

Shares of NASDAQ:WULF opened at $8.12 on Friday. TeraWulf has a 52-week low of $1.24 and a 52-week high of $9.30. The company has a 50 day moving average of $6.35 and a two-hundred day moving average of $4.92.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Northland Securities increased their target price on shares of TeraWulf from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald reissued an “overweight” rating and set a $11.00 target price on shares of TeraWulf in a research report on Wednesday. Needham & Company LLC increased their target price 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. B. Riley reissued a “buy” rating and set a $6.00 target price on shares of TeraWulf in a research report on Monday, October 7th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $10.00 target price on shares of TeraWulf in a research report on Thursday. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $8.07.

Institutional Investors Weigh In On TeraWulf

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of TeraWulf by 17.7% during the 1st quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock worth $30,830,000 after purchasing an additional 1,764,115 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of TeraWulf by 12.9% during the third quarter. Geode Capital Management LLC now owns 7,183,123 shares of the company’s stock worth $33,623,000 after buying an additional 820,354 shares during the last quarter. State Street Corp grew its stake in shares of TeraWulf by 3.8% in the third 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 last quarter. Point72 Asset Management L.P. bought a new position in TeraWulf during the second quarter worth $22,443,000. Finally, Hood River Capital Management LLC acquired a new position in TeraWulf during the 2nd quarter valued at $20,532,000. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Company Profile

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.