HC Wainwright Reaffirms “Sell” Rating for IREN (NASDAQ:IREN)

IREN (NASDAQ:IREN)‘s stock had its “sell” rating restated by analysts at HC Wainwright in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. They currently have a $45.00 target price on the stock, up from their previous target price of $36.00. HC Wainwright’s price target indicates a potential downside of 22.71% from the stock’s current price. HC Wainwright also issued estimates for IREN’s Q1 2026 earnings at $0.18 EPS, Q2 2026 earnings at $0.17 EPS, Q3 2026 earnings at $0.26 EPS, Q4 2026 earnings at $0.33 EPS, Q1 2027 earnings at $0.34 EPS, Q2 2027 earnings at $0.35 EPS and FY2027 earnings at $1.31 EPS.

A number of other analysts also recently commented on IREN. Weiss Ratings reiterated a “hold (c-)” rating on shares of IREN in a research report on Wednesday, October 8th. Roth Capital reiterated a “buy” rating and set a $35.00 target price on shares of IREN in a research report on Friday, August 29th. Arete Research initiated coverage on shares of IREN in a research report on Wednesday, September 24th. They issued a “buy” rating and a $78.00 price objective on the stock. BTIG Research boosted their price objective on shares of IREN from $32.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Finally, Canaccord Genuity Group boosted their price objective on shares of IREN from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Ten analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $55.27.

IREN Stock Down 3.6%

IREN stock opened at $58.22 on Wednesday. The company has a market cap of $15.83 billion, a P/E ratio of 98.68 and a beta of 4.19. IREN has a 52 week low of $5.13 and a 52 week high of $74.15. The company’s 50-day moving average price is $44.67 and its 200 day moving average price is $23.44. The company has a current ratio of 4.29, a quick ratio of 4.29 and a debt-to-equity ratio of 0.53.

IREN (NASDAQ:IREN) last released its quarterly earnings data on Thursday, August 28th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The firm had revenue of $187.30 million for the quarter, compared to the consensus estimate of $187.51 million. IREN had a net margin of 33.03% and a return on equity of 1.34%. On average, research analysts expect that IREN will post 0.43 earnings per share for the current fiscal year.

Insider Transactions at IREN

In other IREN news, CEO Daniel John Roberts sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $33.13, for a total value of $33,130,000.00. Following the transaction, the chief executive officer directly owned 13,989,696 shares in the company, valued at approximately $463,478,628.48. This represents a 6.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.02% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hood River Capital Management LLC purchased a new position in shares of IREN during the second quarter valued at approximately $74,228,000. Situational Awareness LP purchased a new position in shares of IREN during the first quarter valued at approximately $20,500,000. Merewether Investment Management LP purchased a new position in shares of IREN during the second quarter valued at approximately $21,025,000. Alkeon Capital Management LLC purchased a new position in shares of IREN during the 2nd quarter worth $14,570,000. Finally, Invesco Ltd. lifted its stake in shares of IREN by 45.9% during the 2nd quarter. Invesco Ltd. now owns 2,974,674 shares of the company’s stock worth $43,341,000 after purchasing an additional 936,333 shares during the period. 41.08% of the stock is currently owned by hedge funds and other institutional investors.

IREN Company Profile

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