Equities Analysts Set Expectations for TeraWulf Inc.’s FY2023 Earnings (NASDAQ:WULF)

TeraWulf Inc. (NASDAQ:WULF) – Investment analysts at Northland Capmk lowered their FY2023 earnings per share estimates for shares of TeraWulf in a research report issued to clients and investors on Tuesday, November 14th. Northland Capmk analyst M. Grondahl now expects that the company will post earnings of ($0.33) per share for the year, down from their prior forecast of ($0.28). The consensus estimate for TeraWulf’s current full-year earnings is ($0.25) per share. Northland Capmk also issued estimates for TeraWulf’s Q4 2023 earnings at ($0.02) EPS, Q1 2024 earnings at ($0.03) EPS, Q2 2024 earnings at ($0.09) EPS, Q3 2024 earnings at ($0.10) EPS, Q4 2024 earnings at ($0.10) EPS and FY2024 earnings at ($0.33) EPS.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings results on Monday, August 14th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). TeraWulf had a negative net margin of 158.25% and a negative return on equity of 70.60%. The business had revenue of $15.46 million for the quarter, compared to analysts’ expectations of $21.41 million.

A number of other brokerages also recently weighed in on WULF. Compass Point began coverage on TeraWulf in a report on Thursday, September 7th. They set a “buy” rating and a $3.00 price target on the stock. Stifel Canada reissued a “speculative buy” rating on shares of TeraWulf in a research report on Tuesday, October 17th. B. Riley reduced their price objective on TeraWulf from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Friday, August 18th. Stifel Nicolaus started coverage on TeraWulf in a research report on Wednesday, October 18th. They set a “buy” rating and a $3.00 price objective for the company. Finally, Cantor Fitzgerald reduced their price target on TeraWulf from $4.00 to $3.00 and set an “overweight” rating for the company in a research report on Tuesday. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $3.45.

TeraWulf Trading Up 13.2 %

Shares of WULF stock opened at $1.09 on Thursday. TeraWulf has a 1-year low of $0.54 and a 1-year high of $4.04. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.66. The stock’s fifty day simple moving average is $1.25 and its 200-day simple moving average is $1.83.

Insider Buying and Selling

In other TeraWulf news, CEO Paul B. Prager acquired 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was acquired at an average price of $1.90 per share, with a total value of $95,000.00. Following the transaction, the chief executive officer now owns 525,000 shares of the company’s stock, valued at $997,500. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 36.12% of the stock is owned by insiders.

Hedge Funds Weigh In On TeraWulf

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. increased its stake in TeraWulf by 2,542.9% during the first quarter. Advisor Group Holdings Inc. now owns 3,700 shares of the company’s stock valued at $31,000 after acquiring an additional 3,560 shares during the period. Bank of New York Mellon Corp bought a new position in TeraWulf during the first quarter valued at about $86,000. Charles Schwab Investment Management Inc. bought a new position in TeraWulf during the first quarter valued at about $111,000. Citigroup Inc. increased its stake in TeraWulf by 17,705.9% during the second quarter. Citigroup Inc. now owns 15,135 shares of the company’s stock valued at $26,000 after acquiring an additional 15,050 shares during the period. Finally, Invesco Ltd. bought a new position in TeraWulf during the first quarter valued at about $144,000. 13.12% of the stock is currently owned by institutional investors.

TeraWulf Company Profile

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. It develops, owns, and operates bitcoin mining facility sites in New York and Pennsylvania. TeraWulf Inc was founded in 2021 and is based in Easton, Maryland.