Q2 2024 EPS Estimates for TeraWulf Inc. (NASDAQ:WULF) Decreased by Analyst

TeraWulf Inc. (NASDAQ:WULF) – Research analysts at B. Riley decreased their Q2 2024 earnings per share (EPS) estimates for TeraWulf in a research report issued on Monday, June 17th. B. Riley analyst L. Pipes now forecasts that the company will post earnings per share of $0.01 for the quarter, down from their previous forecast of $0.03. B. Riley currently has a “Buy” rating and a $3.00 price target 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 Q3 2024 earnings at ($0.01) EPS, Q1 2026 earnings at $0.01 EPS and FY2026 earnings at $0.09 EPS.

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

TeraWulf Stock Up 2.7 %

NASDAQ:WULF opened at $4.51 on Tuesday. TeraWulf has a 12 month low of $0.89 and a 12 month high of $4.52. The company has a 50 day simple moving average of $2.49 and a two-hundred day simple moving average of $2.18.

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

Institutional Investors Weigh In On TeraWulf

Institutional investors and hedge funds have recently made changes to their positions in the stock. Swiss National Bank acquired a new position in shares of TeraWulf in the third quarter worth about $294,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of TeraWulf during the third quarter worth about $49,000. Luminus Management LLC increased its stake in shares of TeraWulf by 97.4% during the third quarter. Luminus Management LLC now owns 1,099,393 shares of the company’s stock worth $1,385,000 after purchasing an additional 542,496 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of TeraWulf during the third quarter worth about $144,000. Finally, Axxcess Wealth Management LLC increased its stake in shares of TeraWulf by 356.2% during the third quarter. Axxcess Wealth Management LLC now owns 1,000,000 shares of the company’s stock worth $1,260,000 after purchasing an additional 780,786 shares in the last quarter. 62.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at TeraWulf

In related news, Treasurer Kenneth J. Deane sold 69,996 shares of TeraWulf 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 transaction, the treasurer now directly owns 337,245 shares of the company’s stock, valued at $1,096,046.25. The sale was disclosed in a filing with the SEC, which is accessible through this link. 24.88% of the stock is currently owned by corporate 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.