Iris Energy (IREN) to Release Quarterly Earnings on Wednesday

Iris Energy (NASDAQ:IREN) is expected to be announcing its earnings results after the market closes on Wednesday, February 12th. Analysts expect the company to announce earnings of ($0.04) per share and revenue of $118.04 million for the quarter.

Iris Energy (NASDAQ:IREN) last issued its quarterly earnings results on Tuesday, November 26th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.11). Iris Energy had a negative net margin of 36.10% and a negative return on equity of 8.01%. On average, analysts expect Iris Energy to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Iris Energy Stock Performance

Iris Energy stock opened at $11.07 on Thursday. The firm has a 50-day moving average of $11.79 and a 200-day moving average of $9.87. Iris Energy has a one year low of $3.59 and a one year high of $15.92.

Analyst Ratings Changes

Several research firms have weighed in on IREN. BTIG Research initiated coverage on Iris Energy in a research report on Friday, December 20th. They set a “buy” rating and a $33.00 price target on the stock. B. Riley boosted their target price on shares of Iris Energy from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. HC Wainwright upped their price target on shares of Iris Energy from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $15.00 price objective (up previously from $9.50) on shares of Iris Energy in a research report on Tuesday, December 10th. Finally, Cantor Fitzgerald upped their target price on shares of Iris Energy from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Iris Energy currently has a consensus rating of “Moderate Buy” and an average price target of $19.50.

Iris Energy Company Profile

Iris Energy Limited owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.