Brokers Offer Predictions for TeraWulf FY2024 Earnings

TeraWulf Inc. (NASDAQ:WULF) – Equities researchers at Stifel Canada issued their FY2024 earnings per share (EPS) estimates for shares of TeraWulf in a research report issued to clients and investors on Tuesday, December 24th. Stifel Canada analyst B. Papanastasiou forecasts that the company will post earnings per share of ($0.16) for the year. Stifel Canada currently has a “Moderate Buy” rating on the stock. The consensus estimate for TeraWulf’s current full-year earnings is ($0.17) per share. Stifel Canada also issued estimates for TeraWulf’s FY2025 earnings at ($0.04) EPS and FY2026 earnings at ($0.04) EPS.

A number of other research firms also recently weighed in on WULF. Rosenblatt Securities restated a “buy” rating and set a $10.00 price target on shares of TeraWulf in a report on Thursday, December 5th. Northland Securities restated an “outperform” rating and set a $10.00 target price on shares of TeraWulf in a report on Tuesday. B. Riley boosted their price target on TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Needham & Company LLC increased their price objective on TeraWulf from $6.00 to $9.50 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 target price on shares of TeraWulf in a report on Wednesday, December 4th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, TeraWulf currently has a consensus rating of “Buy” and an average target price of $8.64.

TeraWulf Stock Down 2.4 %

Shares of WULF opened at $6.08 on Friday. The firm’s 50 day moving average price is $7.05 and its 200 day moving average price is $5.37. TeraWulf has a twelve month low of $1.24 and a twelve month high of $9.30.

Institutional Investors Weigh In On TeraWulf

Several hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its stake in TeraWulf by 258.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock valued at $11,063,000 after acquiring an additional 1,704,013 shares during the period. State Street Corp increased its position in shares of TeraWulf by 3.8% during the third quarter. State Street Corp now owns 6,283,196 shares of the company’s stock valued at $29,405,000 after purchasing an additional 227,186 shares during the period. Intech Investment Management LLC bought a new stake in shares of TeraWulf during the third quarter valued at approximately $340,000. Bank of New York Mellon Corp raised its stake in shares of TeraWulf by 97.8% in the second quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock valued at $3,757,000 after purchasing an additional 417,369 shares in the last quarter. Finally, Central Asset Investments & Management Holdings HK Ltd bought a new position in TeraWulf in the second quarter worth $1,095,000. 62.49% of the stock is 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.