Atb Cap Markets Forecasts TeraWulf FY2024 Earnings

TeraWulf Inc. (NASDAQ:WULF - Free Report) - Stock analysts at Atb Cap Markets issued their FY2024 earnings per share (EPS) estimates for shares of TeraWulf in a report released on Sunday, January 5th. Atb Cap Markets analyst M. Toner anticipates that the company will post earnings of ($0.14) per share for the year. Atb Cap Markets currently has a "Strong-Buy" rating on the stock. The consensus estimate for TeraWulf's current full-year earnings is ($0.17) per share. Atb Cap Markets also issued estimates for TeraWulf's FY2025 earnings at $0.11 EPS, FY2026 earnings at $0.36 EPS, FY2027 earnings at $0.66 EPS, FY2028 earnings at $0.62 EPS and FY2029 earnings at $0.87 EPS.

A number of other research analysts have also recently commented on WULF. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $11.00 target price on shares of TeraWulf in a research note on Monday. Rosenblatt Securities reaffirmed a "buy" rating and issued a $10.00 price objective on shares of TeraWulf in a research report on Thursday, December 5th. Needham & Company LLC lifted their target price on TeraWulf from $6.00 to $9.50 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Northland Securities reissued an "outperform" rating and set a $10.00 target price on shares of TeraWulf in a research note on Tuesday, December 24th. Finally, Stifel Canada downgraded shares of TeraWulf from a "strong-buy" rating to a "moderate buy" rating in a research note on Tuesday, October 29th. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $8.64.

TeraWulf Stock Performance

TeraWulf stock traded down $0.62 during midday trading on Wednesday, reaching $5.51. The stock had a trading volume of 35,061,762 shares, compared to its average volume of 35,281,984. TeraWulf has a 52-week low of $1.24 and a 52-week high of $9.30. The company has a fifty day moving average of $6.97 and a 200 day moving average of $5.48.

Institutional Trading of TeraWulf

A number of institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position 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 last quarter. 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 worth $29,405,000 after purchasing an additional 227,186 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of TeraWulf during the 3rd quarter valued at $340,000. Barclays PLC boosted its position in shares of TeraWulf by 419.7% in the 3rd quarter. Barclays PLC now owns 424,748 shares of the company's stock worth $1,989,000 after purchasing an additional 343,016 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in TeraWulf by 97.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company's stock worth $3,757,000 after buying an additional 417,369 shares during the last quarter. 62.49% of the stock is currently 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.