FY2024 EPS Estimates for TeraWulf Inc. (NASDAQ:WULF) Cut by B. Riley

TeraWulf Inc. (NASDAQ:WULF) – Research analysts at B. Riley reduced their FY2024 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 per share of ($0.05) for the year, down from their prior estimate 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.

WULF has been the subject of a number of other reports. Rosenblatt Securities started coverage on shares of TeraWulf in a research note on Tuesday, April 9th. They issued a “buy” rating and a $4.20 price target for the company. Cantor Fitzgerald started coverage on shares of TeraWulf in a research note on Tuesday, June 11th. They issued an “overweight” rating and a $7.00 price target for the company. Finally, Compass Point reduced their price target on shares of TeraWulf from $4.50 to $3.50 and set a “buy” rating for the company in a research note on Thursday, March 21st. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, TeraWulf currently has a consensus rating of “Buy” and a consensus target price of $4.16.

TeraWulf Trading Up 2.7 %

Shares of WULF stock opened at $4.51 on Wednesday. The company has a 50 day moving average price of $2.49 and a 200-day moving average price of $2.18. TeraWulf has a 52 week low of $0.89 and a 52 week high of $4.52.

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

Hedge Funds Weigh In On TeraWulf

Large investors have recently added to or reduced their stakes in the company. Apollon Wealth Management LLC purchased a new position in TeraWulf during the fourth quarter valued at approximately $27,000. Partners Capital Investment Group LLP purchased a new position in TeraWulf during the fourth quarter valued at approximately $29,000. Miracle Mile Advisors LLC purchased a new position in TeraWulf during the first quarter valued at approximately $29,000. Global Retirement Partners LLC purchased a new position in shares of TeraWulf in the fourth quarter worth $30,000. Finally, Regatta Capital Group LLC purchased a new position in shares of TeraWulf in the fourth quarter worth $31,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

Insider Activity at TeraWulf

In related news, Treasurer Kenneth J. Deane sold 69,996 shares of the business’s 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 completion of the sale, the treasurer now directly owns 337,245 shares in the company, valued at $1,096,046.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 24.88% of the stock is currently owned by company insiders.

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.