FY2024 Earnings Forecast for TeraWulf Issued By Roth Capital

TeraWulf Inc. (NASDAQ:WULF) – Research analysts at Roth Capital decreased their FY2024 EPS estimates for shares of TeraWulf in a research note issued on Monday, January 6th. Roth Capital analyst D. Aftahi now expects that the company will post earnings per share of ($0.18) for the year, down from their previous forecast 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 equities analysts have also weighed in on WULF. Atb Cap Markets raised TeraWulf to a “strong-buy” rating in a research report on Sunday, January 5th. Needham & Company LLC upped their target price on TeraWulf from $6.00 to $9.50 and gave the company a “buy” rating in a report on Wednesday, November 13th. Rosenblatt Securities reiterated a “buy” rating and set a $10.00 price target on shares of TeraWulf in a report on Thursday, December 5th. Keefe, Bruyette & Woods assumed coverage on TeraWulf in a research report on Wednesday. They issued a “market perform” rating on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 target price on shares of TeraWulf in a research report on Monday. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $8.64.

TeraWulf Price Performance

Shares of NASDAQ WULF opened at $5.51 on Wednesday. The company’s fifty day simple moving average is $6.92 and its 200 day simple moving average is $5.48. TeraWulf has a 12-month low of $1.24 and a 12-month high of $9.30.

Institutional Investors Weigh In On TeraWulf

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WULF. Bank of New York Mellon Corp raised its holdings 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 valued at $3,757,000 after acquiring an additional 417,369 shares during the period. Principal Financial Group Inc. grew its position in shares of TeraWulf by 75.6% in the second quarter. Principal Financial Group Inc. now owns 30,529 shares of the company’s stock valued at $136,000 after purchasing an additional 13,142 shares in the last quarter. Rhumbline Advisers raised its stake in shares of TeraWulf by 66.8% during the 2nd quarter. Rhumbline Advisers now owns 299,545 shares of the company’s stock valued at $1,333,000 after purchasing an additional 119,911 shares during the period. Arizona State Retirement System purchased a new stake in TeraWulf during the 2nd quarter worth about $282,000. Finally, Cowen AND Company LLC bought a new position in TeraWulf in the 2nd quarter worth about $89,000. 62.49% of the stock is currently owned by institutional investors.

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.