Brokers Offer Predictions for TeraWulf Inc.’s FY2024 Earnings (NASDAQ:WULF)

TeraWulf Inc. (NASDAQ:WULF) – Equities research analysts at B. Riley lowered their FY2024 earnings per share (EPS) estimates for shares of TeraWulf in a research note issued to investors on Monday, June 17th. B. Riley analyst L. Pipes now anticipates that the company will post earnings of ($0.05) per share for the year, down from their previous forecast of ($0.02). B. Riley has a “Buy” rating and a $3.00 price objective on the stock. The consensus estimate for TeraWulf’s current full-year earnings is ($0.06) per share. B. Riley also issued estimates for TeraWulf’s Q1 2025 earnings at ($0.03) EPS, Q2 2025 earnings at ($0.03) EPS, Q3 2025 earnings at ($0.03) EPS, Q4 2025 earnings at ($0.01) EPS and FY2025 earnings at ($0.10) EPS.

A number of other analysts also recently commented on WULF. Cantor Fitzgerald began coverage on TeraWulf in a research note on Tuesday, June 11th. They issued an “overweight” rating and a $7.00 price objective on the stock. Compass Point dropped their price objective on TeraWulf from $4.50 to $3.50 and set a “buy” rating on the stock in a research note on Thursday, March 21st. Finally, Rosenblatt Securities assumed coverage on TeraWulf in a report on Tuesday, April 9th. They issued a “buy” rating and a $4.20 target price on the stock. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, TeraWulf presently has an average rating of “Buy” and a consensus price target of $4.16.

TeraWulf Price Performance

WULF opened at $4.51 on Wednesday. TeraWulf has a one year low of $0.89 and a one year high of $4.52. The stock’s fifty day moving average is $2.49 and its 200-day moving average is $2.18.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings data on Monday, May 13th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). TeraWulf had a negative return on equity of 30.00% and a negative net margin of 56.70%. The firm had revenue of $42.43 million during the quarter, compared to the consensus estimate of $41.86 million.

Insider Buying and Selling

In other news, Treasurer Kenneth J. Deane sold 69,996 shares of TeraWulf stock in a transaction on Friday, June 7th. The stock was sold at an average price of $3.25, for a total transaction of $227,487.00. Following the transaction, the treasurer now owns 337,245 shares in the company, valued at $1,096,046.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 24.88% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its position in TeraWulf by 126.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,457,169 shares of the company’s stock worth $5,897,000 after purchasing an additional 1,372,195 shares during the last quarter. Quadrature Capital Ltd acquired a new position in TeraWulf in the 3rd quarter worth about $144,000. Swiss National Bank acquired a new position in TeraWulf in the 3rd quarter worth about $294,000. Axxcess Wealth Management LLC increased its position in TeraWulf by 356.2% in the 3rd quarter. Axxcess Wealth Management LLC now owns 1,000,000 shares of the company’s stock worth $1,260,000 after purchasing an additional 780,786 shares during the last quarter. Finally, Apollon Wealth Management LLC acquired a new position in TeraWulf in the 4th quarter worth about $27,000. Hedge funds and other 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.