Bitcoin (BTC) mining company TeraWulf (WULF) has struggled this week alongside an analyst warning. Roth Capital analyst Darren Aftahi revised his 2024 loss projection for the crypto miner. The analyst expects TeraWulf to report a loss of 17 cents per share in its 2024 earnings report. That’s worse than his prior estimate pinning losses at 9 cents per share.
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Following these estimates, WULF stock fell 10.11% during normal trading hours yesterday. That comes after a drop in the prior trading session. All told the stock is down 14.22% over the last five days but is still up 159.91% over the last 52 weeks. The drop coincided with heavy trading as 35.17 million units changed hands yesterday, as compared to a three-month daily average of 26.71 million shares.
Despite the Roth Capital analyst’s warnings, he remains bullish on WULF stock. Aftahi has a Buy rating for the stock and a $11 price target, representing potential gains of 99.64%.
Bitcoin Prices Weigh on WULF Stock
TeraWulf stock also suffered falling Bitcoin prices this week alongside the negative analyst estimate. The token lost 3.02% of its value this week and is down 1.28% today. The BTC drop started on Tuesday, lining up with when shares of WULF stock began to fall. That makes sense as the price of TeraWulf is strongly tied to BTC as mining the crypto is its main focus.
Is WULF Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for TeraWulf is Strong Buy based on nine Buy and one Hold ratings over the last three months. With that comes an average price target of $9.75, a high of $11, and a low of $7.50. This represents a potential 76.95% upside for WULF shares.
