On August 5, TeraWulf Inc. fell 5.08% in pre-market trading, trading at $18.06/share, with turnover of $3.55 million. The decline was triggered by the company's Q2 earnings release, which significantly missed expectations on both top and bottom lines.
TeraWulf reported a quarterly loss of $1.94 per share, dramatically worse than the analyst consensus estimate of a $0.22 loss, representing a deviation of 781.82%. The loss also marked a severe deterioration from the $0.05 per share loss in the year-ago quarter — a 3,780% increase. Revenue came in at $44.767 million, falling short of the $46.392 million estimate. Prior to the report, institutions had been focused on the company's path to a profitability inflection point and cash flow improvement timeline, and the magnitude of this miss has significantly damaged market confidence.
Notably, just days prior on August 3, B. Riley had raised its price target on TeraWulf to $40 from $32 with a Buy rating, and the consensus target stood at $38.26. The stock had previously rallied to $22.7 following a $19 billion, 20-year lease agreement with Anthropic for its Kentucky data center before pulling back over 28%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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