TeraWulf Inc. (NASDAQ:WULF – Get Free Report) saw unusually large options trading activity on Wednesday. Stock investors bought 12,201 call options on the stock. This represents an increase of approximately 100% compared to the average daily volume of 6,113 call options.
Institutional Trading of TeraWulf
Several hedge funds have recently bought and sold shares of WULF. Vanguard Group Inc. raised its stake in shares of TeraWulf by 5,028.0% during the 1st quarter. Vanguard Group Inc. now owns 2,248,383 shares of the company’s stock worth $18,886,000 after purchasing an additional 2,204,538 shares during the period. BlackRock Inc. increased its position in shares of TeraWulf by 107.0% during the first quarter. BlackRock Inc. now owns 3,603,712 shares of the company’s stock valued at $3,380,000 after buying an additional 1,863,027 shares during the period. Geode Capital Management LLC increased its position in shares of TeraWulf by 295.2% during the first quarter. Geode Capital Management LLC now owns 1,513,649 shares of the company’s stock valued at $1,420,000 after buying an additional 1,130,659 shares during the period. State Street Corp increased its position in shares of TeraWulf by 200.2% in the second quarter. State Street Corp now owns 1,405,691 shares of the company’s stock worth $2,460,000 after purchasing an additional 937,414 shares during the last quarter. Finally, Axxcess Wealth Management LLC boosted its stake in TeraWulf by 356.2% in the third quarter. Axxcess Wealth Management LLC now owns 1,000,000 shares of the company’s stock worth $1,260,000 after buying an additional 780,786 shares in the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.
TeraWulf Stock Performance
Shares of WULF stock traded up $0.20 on Wednesday, reaching $2.23. The company had a trading volume of 13,142,191 shares, compared to its average volume of 24,436,979. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.34. TeraWulf has a one year low of $0.54 and a one year high of $4.04. The business’s 50-day moving average is $1.59 and its 200 day moving average is $1.87.
TeraWulf (NASDAQ:WULF – Get Free Report) last issued its quarterly earnings data on Monday, November 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). The business had revenue of $18.96 million during the quarter, compared to the consensus estimate of $20.39 million. TeraWulf had a negative net margin of 158.25% and a negative return on equity of 67.73%. Equities analysts predict that TeraWulf will post -0.3 EPS for the current year.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the stock. Cantor Fitzgerald lowered their price target on shares of TeraWulf from $4.00 to $3.00 and set an “overweight” rating for the company in a research report on Tuesday, November 14th. Stifel Canada reiterated a “speculative buy” rating on shares of TeraWulf in a research report on Tuesday, October 17th. Finally, Stifel Nicolaus started coverage on shares of TeraWulf in a research report on Wednesday, October 18th. They set a “buy” rating and a $3.00 price target for the company. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, TeraWulf presently has an average rating of “Buy” and a consensus target price of $3.45.
About TeraWulf
TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. It develops, owns, and operates bitcoin mining facility sites in New York and Pennsylvania. TeraWulf Inc was founded in 2021 and is based in Easton, Maryland.