Q3 2024 Earnings Estimate for Iris Energy Limited (NASDAQ:IREN) Issued By HC Wainwright

Iris Energy Limited (NASDAQ:IRENFree Report) – Equities research analysts at HC Wainwright boosted their Q3 2024 earnings estimates for shares of Iris Energy in a research report issued on Tuesday, April 2nd. HC Wainwright analyst M. Colonnese now anticipates that the company will post earnings of $0.11 per share for the quarter, up from their previous forecast of $0.08. HC Wainwright currently has a “Buy” rating and a $10.00 target price on the stock. The consensus estimate for Iris Energy’s current full-year earnings is ($0.01) per share.

Iris Energy (NASDAQ:IRENGet Free Report) last posted its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) EPS for the quarter. The firm had revenue of $42.57 million for the quarter, compared to analyst estimates of $37.58 million.

Other equities research analysts have also recently issued reports about the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price objective on shares of Iris Energy in a report on Thursday, March 28th. Canaccord Genuity Group restated a “buy” rating and set a $9.00 price target on shares of Iris Energy in a report on Thursday, March 28th. JPMorgan Chase & Co. upped their price target on shares of Iris Energy from $9.00 to $9.50 and gave the company an “overweight” rating in a report on Friday, December 8th. Finally, B. Riley decreased their price target on shares of Iris Energy from $10.00 to $9.50 and set a “buy” rating for the company in a report on Friday, March 15th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $12.00.

Get Our Latest Analysis on IREN

Iris Energy Trading Down 5.6 %

Shares of NASDAQ:IREN opened at $5.56 on Wednesday. Iris Energy has a 1 year low of $2.70 and a 1 year high of $9.69. The firm has a fifty day moving average price of $5.49 and a 200 day moving average price of $4.87.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in IREN. Two Sigma Securities LLC acquired a new position in Iris Energy in the first quarter worth about $32,000. Toroso Investments LLC acquired a new stake in shares of Iris Energy during the third quarter worth approximately $46,000. Tucker Asset Management LLC acquired a new stake in shares of Iris Energy during the third quarter worth approximately $47,000. UBS Group AG increased its holdings in shares of Iris Energy by 25.7% during the first quarter. UBS Group AG now owns 15,957 shares of the company’s stock worth $49,000 after buying an additional 3,259 shares in the last quarter. Finally, Penserra Capital Management LLC increased its holdings in shares of Iris Energy by 42.7% during the fourth quarter. Penserra Capital Management LLC now owns 46,371 shares of the company’s stock worth $57,000 after buying an additional 13,885 shares in the last quarter. Institutional investors and hedge funds own 41.08% of the company’s stock.

Iris Energy Company Profile

(Get Free Report)

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

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Earnings History and Estimates for Iris Energy (NASDAQ:IREN)

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