TeraWulf (NASDAQ:WULF) Posts Earnings Results, Misses Estimates By $1.09 EPS

TeraWulf (NASDAQ:WULF) issued its quarterly earnings data on Monday. The company reported ($1.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($1.09), FiscalAI reports. TeraWulf had a negative net margin of 91.42% and a negative return on equity of 54.98%. The company had revenue of $50.58 million during the quarter, compared to the consensus estimate of $56.27 million. TeraWulf’s revenue for the quarter was up 86.9% on a year-over-year basis.

TeraWulf Price Performance

Shares of TeraWulf stock opened at $12.37 on Wednesday. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market cap of $5.05 billion, a PE ratio of -35.34 and a beta of 3.57. The firm has a fifty day moving average price of $12.51 and a two-hundred day moving average price of $7.68. TeraWulf has a fifty-two week low of $2.06 and a fifty-two week high of $17.05.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on WULF shares. Compass Point set a $17.00 price target on TeraWulf and gave the company a “neutral” rating in a report on Tuesday, October 28th. Citigroup reaffirmed a “market outperform” rating on shares of TeraWulf in a report on Tuesday. Northland Securities set a $23.25 target price on shares of TeraWulf in a research note on Wednesday, October 29th. Oppenheimer started coverage on shares of TeraWulf in a research report on Tuesday, October 28th. They set an “outperform” rating and a $20.00 target price for the company. Finally, JMP Securities set a $22.00 price target on shares of TeraWulf in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.67.

Insider Activity

In other news, Director Amanda Fabiano sold 4,600 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $8.64, for a total transaction of $39,744.00. Following the completion of the transaction, the director owned 40,769 shares of the company’s stock, valued at approximately $352,244.16. This represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 19.90% of the company’s stock.

Institutional Investors Weigh In On TeraWulf

Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its holdings in TeraWulf by 22.2% in the 2nd quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock valued at $63,038,000 after acquiring an additional 2,617,617 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of TeraWulf by 6.0% during the 2nd quarter. Tidal Investments LLC now owns 2,673,105 shares of the company’s stock worth $11,708,000 after purchasing an additional 150,346 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of TeraWulf by 64.0% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,646,707 shares of the company’s stock valued at $11,590,000 after purchasing an additional 1,033,073 shares during the period. Vident Advisory LLC raised its stake in shares of TeraWulf by 5.7% in the second quarter. Vident Advisory LLC now owns 2,500,483 shares of the company’s stock valued at $10,952,000 after purchasing an additional 134,241 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of TeraWulf by 47.8% in the first quarter. Millennium Management LLC now owns 2,456,045 shares of the company’s stock valued at $6,705,000 after purchasing an additional 793,832 shares in the last quarter. 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.