What is B. Riley’s Forecast for TeraWulf FY2024 Earnings?

TeraWulf Inc. (NASDAQ:WULF) – B. Riley reduced their FY2024 earnings per share estimates for TeraWulf in a note issued to investors on Wednesday, February 12th. B. Riley analyst N. Giles now anticipates that the company will post earnings per share of ($0.16) for the year, down from their prior estimate of ($0.14). B. Riley currently has a “Buy” rating and a $10.00 target price on the stock. The consensus estimate for TeraWulf’s current full-year earnings is ($0.16) per share. B. Riley also issued estimates for TeraWulf’s Q4 2024 earnings at ($0.03) EPS and FY2025 earnings at ($0.09) EPS.

A number of other research firms have also weighed in on WULF. Stifel Canada lowered shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. Atb Cap Markets raised shares of TeraWulf to a “strong-buy” rating in a report on Sunday, January 5th. Keefe, Bruyette & Woods started coverage on shares of TeraWulf in a report on Wednesday, January 8th. They issued a “market perform” rating on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 price target on shares of TeraWulf in a research report on Monday, January 6th. Finally, Northland Securities reiterated an “outperform” rating and set a $10.00 price objective on shares of TeraWulf in a research report on Tuesday, December 24th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, TeraWulf presently has a consensus rating of “Buy” and a consensus target price of $8.64.

TeraWulf Price Performance

Shares of NASDAQ WULF opened at $4.87 on Friday. TeraWulf has a 1 year low of $1.57 and a 1 year high of $9.30. The firm has a 50-day moving average of $5.93 and a 200 day moving average of $5.52.

Hedge Funds Weigh In On TeraWulf

Several hedge funds have recently modified their holdings of WULF. FMR LLC grew its stake in shares of TeraWulf by 22.0% during the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after purchasing an additional 1,408 shares during the period. Chesapeake Capital Corp IL lifted its position in shares of TeraWulf by 6.6% during the 3rd 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 in the last quarter. ARS Investment Partners LLC lifted its position in shares of TeraWulf by 20.0% during the 4th quarter. ARS Investment Partners LLC now owns 12,000 shares of the company’s stock valued at $68,000 after buying an additional 2,000 shares in the last quarter. Truist Financial Corp lifted its position in shares of TeraWulf by 5.0% during the 4th quarter. Truist Financial Corp now owns 52,500 shares of the company’s stock valued at $297,000 after buying an additional 2,500 shares in the last quarter. Finally, Xponance Inc. lifted its position in shares of TeraWulf by 22.7% during the 4th quarter. Xponance Inc. now owns 19,156 shares of the company’s stock valued at $108,000 after buying an additional 3,545 shares in the last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.

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.