FY2024 Earnings Estimate for TeraWulf Issued By Roth Capital

TeraWulf Inc. (NASDAQ:WULF) – Equities researchers at Roth Capital reduced their FY2024 earnings per share (EPS) estimates for shares of TeraWulf in a research note issued on Monday, January 6th. Roth Capital analyst D. Aftahi now forecasts that the company will post earnings per share of ($0.18) for the year, down from their previous estimate of ($0.17). The consensus estimate for TeraWulf’s current full-year earnings is ($0.17) per share. Roth Capital also issued estimates for TeraWulf’s Q4 2024 earnings at ($0.05) EPS and Q4 2025 earnings at $0.04 EPS.

A number of other analysts have also weighed in on the stock. B. Riley increased their price objective on shares of TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. 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 restated an “outperform” rating and set a $10.00 price objective on shares of TeraWulf in a report on Tuesday, December 24th. Atb Cap Markets raised TeraWulf to a “strong-buy” rating in a research report on Sunday. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 price objective on shares of TeraWulf in a report on Monday. One 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 company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $8.64.

TeraWulf Stock Performance

NASDAQ:WULF opened at $5.51 on Wednesday. TeraWulf has a fifty-two week low of $1.24 and a fifty-two week high of $9.30. The stock’s fifty day moving average is $6.94 and its 200 day moving average is $5.48.

Hedge Funds Weigh In On TeraWulf

Several hedge funds have recently made changes to their positions in WULF. Charles Schwab Investment Management Inc. grew its stake in TeraWulf by 258.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock valued at $11,063,000 after purchasing an additional 1,704,013 shares during the last quarter. State Street Corp increased its holdings in TeraWulf by 3.8% in the 3rd quarter. State Street Corp now owns 6,283,196 shares of the company’s stock worth $29,405,000 after buying an additional 227,186 shares during the period. Intech Investment Management LLC acquired a new stake in shares of TeraWulf in the third quarter worth $340,000. Barclays PLC grew its position in TeraWulf by 419.7% during the 3rd quarter. Barclays PLC now owns 424,748 shares of the company’s stock worth $1,989,000 after purchasing an additional 343,016 shares during the period. Finally, Bank of New York Mellon Corp grew its position in TeraWulf by 97.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock worth $3,757,000 after purchasing an additional 417,369 shares during the period. 62.49% of the stock is owned by institutional investors and hedge funds.

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.