TeraWulf Inc. Forecasted to Post Q2 2024 Earnings of ($0.03) Per Share (NASDAQ:WULF)

TeraWulf Inc. (NASDAQ:WULF) – Research analysts at Northland Capmk issued their Q2 2024 earnings per share (EPS) estimates for TeraWulf in a report issued on Tuesday, June 18th. Northland Capmk analyst M. Grondahl anticipates that the company will post earnings per share of ($0.03) for the quarter. The consensus estimate for TeraWulf’s current full-year earnings is ($0.08) per share. Northland Capmk also issued estimates for TeraWulf’s FY2024 earnings at ($0.13) EPS.

Several other equities analysts have also recently issued reports on WULF. Cantor Fitzgerald began coverage on shares of TeraWulf in a research note on Tuesday, June 11th. They set an “overweight” rating and a $7.00 target price on the stock. Rosenblatt Securities initiated coverage on shares of TeraWulf in a research report on Tuesday, April 9th. They set a “buy” rating and a $4.20 price objective on the stock. Compass Point cut their target price on shares of TeraWulf from $4.50 to $3.50 and set a “buy” rating for the company in a research report on Thursday, March 21st. Finally, B. Riley lowered their price target on TeraWulf from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, TeraWulf presently has a consensus rating of “Buy” and a consensus price target of $4.16.

TeraWulf Stock Performance

NASDAQ:WULF opened at $4.63 on Friday. The firm has a 50-day simple moving average of $2.54 and a two-hundred day simple moving average of $2.19. TeraWulf has a fifty-two week low of $0.89 and a fifty-two week high of $4.82.

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

Insider Activity at TeraWulf

In other news, Treasurer Kenneth J. Deane sold 69,996 shares of TeraWulf stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $3.25, for a total transaction of $227,487.00. Following the sale, the treasurer now owns 337,245 shares in the company, valued at $1,096,046.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. 24.88% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TeraWulf

Hedge funds have recently bought and sold shares of the business. Miracle Mile Advisors LLC purchased a new position in TeraWulf in the first quarter worth about $29,000. Apollon Wealth Management LLC purchased a new stake in TeraWulf during the 4th quarter valued at $27,000. Partners Capital Investment Group LLP bought a new stake in TeraWulf in the fourth quarter worth $29,000. Global Retirement Partners LLC purchased a new position in TeraWulf during the fourth quarter worth $30,000. Finally, Regatta Capital Group LLC purchased a new stake in shares of TeraWulf in the fourth quarter valued at $31,000. 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.