FY2024 Earnings Forecast for TeraWulf Issued By Roth Capital

TeraWulf Inc. (NASDAQ:WULF) – Equities research analysts at Roth Capital dropped their FY2024 EPS estimates for shares of TeraWulf in a report issued on Wednesday, November 13th. Roth Capital analyst D. Aftahi now forecasts that the company will post earnings of ($0.17) per share for the year, down from their prior forecast 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.

A number of other equities analysts have also recently commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of TeraWulf in a research note on Thursday, October 3rd. Northland Securities upped their price objective on shares of TeraWulf from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday. B. Riley reaffirmed a “buy” rating and issued a $6.00 price objective on shares of TeraWulf in a research note on Monday, October 7th. Stifel Canada cut shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $5.00 price objective on shares of TeraWulf in a research note on Tuesday, October 8th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $7.21.

TeraWulf Price Performance

WULF stock opened at $6.95 on Friday. TeraWulf has a one year low of $0.94 and a one year high of $9.30. The firm has a 50 day simple moving average of $5.37 and a two-hundred day simple moving average of $4.33.

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

Institutional Investors Weigh In On TeraWulf

A number of large investors have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in TeraWulf by 22.0% in the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after acquiring an additional 1,408 shares during the last quarter. Chesapeake Capital Corp IL lifted its position in shares of TeraWulf by 6.6% in the 3rd quarter. Chesapeake Capital Corp IL now owns 27,500 shares of the company’s stock worth $136,000 after purchasing an additional 1,700 shares during the period. Amalgamated Bank lifted its position in shares of TeraWulf by 57.7% in the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock worth $35,000 after purchasing an additional 2,912 shares during the period. Victory Capital Management Inc. lifted its position in shares of TeraWulf by 13.3% in the 3rd quarter. Victory Capital Management Inc. now owns 34,866 shares of the company’s stock worth $163,000 after purchasing an additional 4,093 shares during the period. Finally, Aspect Partners LLC purchased a new stake in shares of TeraWulf in the 3rd quarter worth about $26,000. Institutional investors own 62.49% of the company’s stock.

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.