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

TeraWulf (NASDAQ:WULF) posted its quarterly earnings results on Friday. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04), Zacks reports. The company had revenue of $35.00 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 50.2% on a year-over-year basis.

TeraWulf Stock Performance

TeraWulf stock traded up $0.45 during trading on Friday, hitting $4.06. The company’s stock had a trading volume of 95,013,504 shares, compared to its average volume of 45,947,020. The stock’s fifty day moving average is $5.31 and its 200 day moving average is $5.56. TeraWulf has a 1-year low of $1.57 and a 1-year high of $9.30.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on WULF shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 target price on shares of TeraWulf in a research report on Monday, January 6th. Keefe, Bruyette & Woods assumed coverage on shares of TeraWulf in a research report on Wednesday, January 8th. They set a “market perform” rating for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $10.00 target price on shares of TeraWulf in a research note on Monday, January 13th. B. Riley raised their price target on TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Northland Securities restated an “outperform” rating and issued a $10.00 price objective on shares of TeraWulf in a research report on Tuesday, December 24th. 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. Based on data from MarketBeat, TeraWulf currently has an average rating of “Buy” and a consensus price target of $8.64.

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.