What is B. Riley's Forecast for TeraWulf FY2024 Earnings?

TeraWulf Inc. (NASDAQ:WULF - Free Report) - Research analysts at B. Riley reduced their FY2024 earnings per share estimates for TeraWulf in a report issued on Wednesday, February 12th. B. Riley analyst N. Giles now expects that the company will earn ($0.16) per share for the year, down from their prior forecast of ($0.14). B. Riley has a "Buy" rating and a $10.00 price target on the stock. The consensus estimate for TeraWulf's current full-year earnings is ($0.16) per share. B. Riley also issued estimates for TeraWulf's Q4 2024 earnings at ($0.03) EPS and FY2025 earnings at ($0.09) EPS.

Other equities research analysts also recently issued reports about the company. Cantor Fitzgerald reissued an "overweight" rating and issued a $11.00 price objective on shares of TeraWulf in a report on Monday, January 6th. Stifel Canada downgraded TeraWulf from a "strong-buy" rating to a "moderate buy" rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods assumed coverage on TeraWulf in a report on Wednesday, January 8th. They issued a "market perform" rating for the company. Rosenblatt Securities restated a "buy" rating and set a $10.00 price target on shares of TeraWulf in a research note on Monday, January 13th. Finally, Northland Securities restated an "outperform" rating and set a $10.00 price target on shares of TeraWulf in a research note on Tuesday, December 24th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $8.64.

TeraWulf Price Performance

Shares of WULF stock traded down $0.16 during trading hours on Friday, hitting $4.71. The stock had a trading volume of 21,307,889 shares, compared to its average volume of 43,259,836. TeraWulf has a twelve month low of $1.57 and a twelve month high of $9.30. The stock's 50 day moving average is $5.78 and its 200 day moving average is $5.56.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WULF. Senator Investment Group LP purchased a new position in TeraWulf in the fourth quarter worth $24,371,000. Science & Technology Partners L.P. purchased a new position in TeraWulf in the fourth quarter worth $18,606,000. BIT Capital GmbH raised its position in TeraWulf by 169.4% in the fourth quarter. BIT Capital GmbH now owns 3,975,768 shares of the company's stock worth $22,503,000 after acquiring an additional 2,499,865 shares in the last quarter. Van ECK Associates Corp raised its position in TeraWulf by 74.2% in the fourth quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company's stock worth $26,964,000 after acquiring an additional 2,028,383 shares in the last quarter. Finally, Zweig DiMenna Associates LLC purchased a new position in TeraWulf in the third quarter worth $9,489,000. Hedge funds and other institutional investors own 62.49% of the company's stock.

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.