FY2024 Earnings Forecast for TeraWulf Issued By Roth Capital

TeraWulf Inc. (NASDAQ:WULF) – Equities researchers at Roth Capital reduced their FY2024 earnings estimates for shares of TeraWulf in a research report issued on Wednesday, November 13th. Roth Capital analyst D. Aftahi now expects that the company will post earnings per share of ($0.17) for the year, down from their previous estimate of ($0.09). The consensus estimate for TeraWulf’s current full-year earnings is ($0.10) per share. Roth Capital also issued estimates for TeraWulf’s Q4 2024 earnings at ($0.04) EPS, Q4 2025 earnings at $0.03 EPS and FY2026 earnings at $0.16 EPS.

WULF has been the subject of a number of other reports. Rosenblatt Securities reissued a “buy” rating and set a $5.00 price target on shares of TeraWulf in a research report on Tuesday, October 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price target on shares of TeraWulf in a research report on Thursday, October 3rd. Stifel Canada cut shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. Northland Securities lifted their price target on shares of TeraWulf from $8.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, B. Riley reaffirmed a “buy” rating and issued a $6.00 target price on shares of TeraWulf in a report on Monday, October 7th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $7.21.

TeraWulf Price Performance

Shares of NASDAQ WULF opened at $6.95 on Friday. TeraWulf has a 1 year low of $0.94 and a 1 year high of $9.30. The firm has a 50-day moving average of $5.37 and a 200 day moving average of $4.33.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter. TeraWulf had a negative net margin of 41.88% and a negative return on equity of 17.02%. The business had revenue of $35.57 million for the quarter, compared to analysts’ expectations of $35.73 million.

Institutional Trading of TeraWulf

A number of large investors have recently made changes to their positions in the stock. FMR LLC grew its position in TeraWulf by 22.0% during the third quarter. FMR LLC now owns 7,803 shares of the company’s stock valued at $37,000 after buying an additional 1,408 shares during the period. Chesapeake Capital Corp IL grew its position in TeraWulf by 6.6% during the third quarter. Chesapeake Capital Corp IL now owns 27,500 shares of the company’s stock valued at $136,000 after buying an additional 1,700 shares during the period. Amalgamated Bank grew its position in TeraWulf by 57.7% during the second quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after buying an additional 2,912 shares during the period. Victory Capital Management Inc. grew its position in TeraWulf by 13.3% during the third quarter. Victory Capital Management Inc. now owns 34,866 shares of the company’s stock valued at $163,000 after buying an additional 4,093 shares during the period. Finally, Aspect Partners LLC bought a new stake in TeraWulf during the third quarter valued at approximately $26,000. 62.49% of the stock is currently owned by institutional investors.

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.