Brokers Issue Forecasts for TeraWulf FY2024 Earnings

TeraWulf Inc. (NASDAQ:WULF) – Stifel Canada issued their FY2024 earnings per share (EPS) estimates for TeraWulf in a report issued on Tuesday, December 24th. Stifel Canada analyst B. Papanastasiou expects that the company will post earnings per share of ($0.16) for the year. Stifel Canada 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.

Several other research firms also recently commented on WULF. B. Riley boosted their price target on shares of TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Northland Securities restated an “outperform” rating and set a $10.00 target price on shares of TeraWulf in a report on Tuesday, December 24th. Needham & Company LLC raised their target price on shares of TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 price target on shares of TeraWulf in a research note on Wednesday, December 4th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $10.00 price objective on shares of TeraWulf in a research report on Thursday, December 5th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, TeraWulf has a consensus rating of “Buy” and a consensus price target of $8.64.

TeraWulf Price Performance

TeraWulf stock opened at $5.53 on Friday. TeraWulf has a 1 year low of $1.24 and a 1 year high of $9.30. The company’s 50 day simple moving average is $7.06 and its 200-day simple moving average is $5.40.

Institutional Inflows and Outflows

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

TeraWulf Company Profile

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.