Stock Traders Purchase Large Volume of Put Options on TeraWulf (NASDAQ:WULF)

TeraWulf Inc. (NASDAQ:WULF) saw some unusual options trading activity on Thursday. Traders acquired 229,632 put options on the stock. This is an increase of 28% compared to the typical volume of 179,937 put options.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. B. Riley Financial upped their price target on shares of TeraWulf from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Bank of America started coverage on TeraWulf in a research note on Monday, June 15th. They set a “buy” rating and a $34.00 price objective for the company. Compass Point set a $40.00 price target on shares of TeraWulf in a report on Monday, July 6th. Cantor Fitzgerald restated an “overweight” rating and set a $37.00 price target on shares of TeraWulf in a research note on Wednesday, July 15th. Finally, Oppenheimer reissued an “outperform” rating and issued a $35.00 target price on shares of TeraWulf in a research report on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.21.

TeraWulf Price Performance

WULF traded up $0.95 during trading on Thursday, hitting $16.45. The company’s stock had a trading volume of 32,215,984 shares, compared to its average volume of 31,785,053. The business’s fifty day simple moving average is $21.14 and its 200 day simple moving average is $19.63. TeraWulf has a twelve month low of $8.60 and a twelve month high of $29.84. The firm has a market capitalization of $8.21 billion, a price-to-earnings ratio of -3.76 and a beta of 3.76. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 27.25.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($1.70). The company had revenue of $44.77 million for the quarter, compared to analyst estimates of $46.00 million. TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%.The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.05) EPS. On average, equities research analysts forecast that TeraWulf will post -0.94 EPS for the current fiscal year.

Insider Activity

In other news, Director Michael C. Bucella bought 2,860 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were bought at an average cost of $17.47 per share, for a total transaction of $49,964.20. Following the completion of the transaction, the director owned 344,704 shares of the company’s stock, valued at approximately $6,021,978.88. This represents a 0.84% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Paul B. Prager sold 137,500 shares of TeraWulf stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $26.60, for a total value of $3,657,500.00. Following the completion of the sale, the chief executive officer directly owned 3,945,052 shares in the company, valued at approximately $104,938,383.20. The trade was a 3.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 15.90% of the company’s stock.

Institutional Investors Weigh In On TeraWulf

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. CoreCap Advisors LLC raised its holdings in shares of TeraWulf by 106.7% in the 2nd quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock valued at $36,000 after buying an additional 747 shares during the period. Advisory Services Network LLC purchased a new position in TeraWulf in the third quarter valued at approximately $29,000. First United Bank & Trust acquired a new stake in shares of TeraWulf during the first quarter worth about $37,000. Vermillion Wealth Management Inc. lifted its stake in TeraWulf by 1,191.0% in the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock valued at $30,000 after buying an additional 2,394 shares during the last quarter. Finally, Solstein Capital LLC purchased a new stake in TeraWulf in the 2nd quarter valued at $74,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

About TeraWulf

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.