TeraWulf (NASDAQ:WULF) Issues Quarterly Earnings Results, Misses Expectations By $0.04 EPS

TeraWulf (NASDAQ:WULF - Get Free Report) issued its earnings results on Friday. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.04), Zacks reports. The business had revenue of $35.00 million during the quarter, compared to the consensus estimate of $37.43 million. TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The firm's revenue was up 50.2% on a year-over-year basis.

TeraWulf Stock Performance

NASDAQ:WULF traded down $0.19 on Tuesday, reaching $3.48. The company's stock had a trading volume of 35,444,371 shares, compared to its average volume of 46,980,383. TeraWulf has a 1-year low of $1.57 and a 1-year high of $9.30. The business's 50-day moving average price is $5.22 and its two-hundred day moving average price is $5.59. The firm has a market cap of $1.34 billion, a PE ratio of -17.40 and a beta of 2.59.

Analyst Ratings Changes

A number of brokerages have issued reports on WULF. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $11.00 price objective on shares of TeraWulf in a research note on Monday, January 6th. Atb Cap Markets raised TeraWulf to a "strong-buy" rating in a research note on Sunday, January 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $9.50 price objective on shares of TeraWulf in a research note on Monday, January 13th. B. Riley upped their price objective on TeraWulf from $8.00 to $10.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Finally, Northland Securities restated an "outperform" rating and set a $10.00 target price on shares of TeraWulf in a report on Tuesday, December 24th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, TeraWulf has a consensus rating of "Buy" and an average price target of $8.64.

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TeraWulf Company Profile

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.