Northland Securities Expects Weaker Earnings for TeraWulf

Key Points

• Northland Securities lowered its FY2026 EPS forecast for TeraWulf to a loss of $1.52 per share from a projected loss of $1.23; its Q4 2026 estimate is a loss of $0.22 per share. The revised full-year forecast is more pessimistic than the analyst consensus loss of $1.09 per share.
• TeraWulf’s latest quarter beat estimates, reporting a loss of $0.03 per share versus the expected $0.18 loss and revenue of $76.23 million versus $62.49 million expected. Revenue rose 50.7% year over year.
• Several analysts cut their price targets, though most retained Buy or similar ratings; MarketBeat reported a “Moderate Buy” consensus and a $27.18 average target price.

TeraWulf Inc. (NASDAQ:WULF - Free Report) - Investment analysts at Northland Securities reduced their FY2026 earnings per share (EPS) estimates for TeraWulf in a note issued to investors on Friday, November 6th. Northland Securities analyst M. Grondahl now forecasts that the company will earn ($1.52) per share for the year, down from their previous forecast of ($1.23). The consensus estimate for TeraWulf's current full-year earnings is ($1.09) per share. Northland Securities also issued estimates for TeraWulf's Q4 2026 earnings at ($0.22) EPS.

Several other research firms have also issued reports on WULF. B. Riley Financial reduced their target price on shares of TeraWulf from $40.00 to $26.00 and set a "buy" rating for the company in a research note on Friday, October 30th. Wells Fargo & Company cut their price target on shares of TeraWulf from $30.00 to $22.00 and set an "overweight" rating on the stock in a report on Tuesday. Rosenblatt Securities cut their price target on shares of TeraWulf from $30.00 to $20.00 and set a "buy" rating on the stock in a report on Monday. Keefe, Bruyette & Woods reduced their price objective on shares of TeraWulf from $33.00 to $30.00 and set an "outperform" rating for the company in a research report on Tuesday, July 28th. Finally, Jefferies Financial Group decreased their price objective on shares of TeraWulf from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, TeraWulf has an average rating of "Moderate Buy" and a consensus target price of $27.18.

TeraWulf Price Performance

Shares of NASDAQ:WULF opened at $12.56 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 27.25. The stock's fifty day simple moving average is $14.10 and its two-hundred day simple moving average is $17.94. TeraWulf has a 1-year low of $9.51 and a 1-year high of $29.84. The stock has a market cap of $6.30 billion, a PE ratio of -3.84 and a beta of 4.00.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its quarterly earnings results on Friday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.15. The business had revenue of $76.23 million during the quarter, compared to the consensus estimate of $62.49 million. TeraWulf had a positive return on equity of 336.44% and a negative net margin of 410.92%. TeraWulf's revenue was up 50.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.13) earnings per share.

Insider Transactions at TeraWulf

In related news, Director Michael Bucella purchased 6,085 shares of the business's stock in a transaction that occurred on Tuesday, September 15th. The shares were bought at an average cost of $14.79 per share, with a total value of $89,997.15. Following the acquisition, the director owned 350,789 shares of the company's stock, valued at $5,188,169.31. This represents a 1.77% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Walter Carter sold 130,626 shares of the stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $15.14, for a total transaction of $1,977,677.64. Following the transaction, the director owned 229,090 shares of the company's stock, valued at approximately $3,468,422.60. The trade was a 36.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders have acquired 11,968 shares of company stock worth $189,962 in the last ninety days. Company insiders own 15.90% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WULF. BlackRock Inc. purchased a new stake in shares of TeraWulf during the 2nd quarter worth approximately $577,805,000. Bank of America Corp DE bought a new stake in shares of TeraWulf in the 2nd quarter worth approximately $140,057,000. Jennison Associates LLC bought a new stake in shares of TeraWulf in the 1st quarter worth approximately $53,418,000. Engle Capital Management L.P. lifted its stake in TeraWulf by 574.3% in the first quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company's stock valued at $42,570,000 after purchasing an additional 2,512,600 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in TeraWulf in the second quarter valued at approximately $61,962,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting TeraWulf

Here are the key news stories impacting TeraWulf this week:

• Positive Sentiment: TeraWulf says it is targeting $700 million in annualized lease revenue by Q1 2027 as it expands AI infrastructure. The plan cites Google credit support and disciplined funding, supporting the company’s growth outlook. Article: WULF Q3 Earnings Call Highlights AI Expansion and Funding Plans
• Neutral Sentiment: Analysts lowered their price targets, but maintained Buy or Overweight ratings: Jefferies to $14, Citi to $24, Morgan Stanley to $47 and Wells Fargo to $22; Rosenblatt and Needham also cut targets on Nov. 9, to $20 and $25, respectively. The revisions flag reduced expectations, though the ratings and targets still indicate potential upside from the quoted share price. Read More., Read More., Read More., Read More., Read More. and Read More..
• Negative Sentiment: TeraWulf is taking Lansing to court over records requests as a proposed data-center ban advances. The dispute adds regulatory uncertainty to its data-center expansion plans. Article: TeraWulf Takes Lansing to Court
• Neutral Sentiment: A short-interest report describes a large increase but lists short interest as zero shares, making the reported figure internally inconsistent and difficult to interpret.

TeraWulf Company Profile

TeraWulf, Inc. develops and operates digital infrastructure, including facilities for Bitcoin mining and high-performance computing (HPC). The company focuses on locating its operations near sources of low-carbon energy and offers data center capacity designed for energy-intensive computing. Its Lake Mariner facility in New York is a key site for its mining and data center activities. TeraWulf has also operated in Pennsylvania through the Nautilus Cryptomine facility, reflecting its history of developing energy-intensive operations in the northeastern United States.

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