Brokers Issue Forecasts for TeraWulf Inc.’s Q1 2024 Earnings (NASDAQ:WULF)

TeraWulf Inc. (NASDAQ:WULF) – Northland Capmk raised their Q1 2024 earnings per share (EPS) estimates for TeraWulf in a research report issued to clients and investors on Monday, April 8th. Northland Capmk analyst M. Grondahl now expects that the company will post earnings per share of $0.05 for the quarter, up from their previous estimate of $0.01. The consensus estimate for TeraWulf’s current full-year earnings is $0.13 per share. Northland Capmk also issued estimates for TeraWulf’s FY2024 earnings at ($0.01) EPS.

Several other research firms have also weighed in on WULF. Rosenblatt Securities started coverage on TeraWulf in a report on Tuesday. They set a “buy” rating and a $4.20 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $4.00 target price on shares of TeraWulf in a report on Thursday, March 28th. B. Riley cut their target price on TeraWulf from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Finally, Compass Point cut their target price on TeraWulf from $4.50 to $3.50 and set a “buy” rating on the stock in a report on Thursday, March 21st. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, TeraWulf presently has an average rating of “Buy” and a consensus price target of $3.66.

TeraWulf Stock Performance

NASDAQ WULF opened at $2.18 on Wednesday. TeraWulf has a fifty-two week low of $0.89 and a fifty-two week high of $4.04. The stock’s 50-day moving average is $2.14 and its two-hundred day moving average is $1.70.

Institutional Investors Weigh In On TeraWulf

Several hedge funds and other institutional investors have recently made changes to their positions in WULF. California State Teachers Retirement System grew its position in TeraWulf by 202.0% during the first quarter. California State Teachers Retirement System now owns 26,137 shares of the company’s stock worth $25,000 after buying an additional 17,482 shares in the last quarter. Citigroup Inc. grew its position in TeraWulf by 17,705.9% during the second quarter. Citigroup Inc. now owns 15,135 shares of the company’s stock worth $26,000 after buying an additional 15,050 shares in the last quarter. Apollon Wealth Management LLC acquired a new stake in TeraWulf during the fourth quarter worth about $27,000. Partners Capital Investment Group LLP acquired a new stake in TeraWulf during the fourth quarter worth about $29,000. Finally, Franklin Resources Inc. acquired a new stake in TeraWulf during the fourth quarter worth about $29,000. 62.49% of the stock is owned by institutional investors and hedge funds.

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.