Iris Energy (IREN) Expected to Announce Earnings on Wednesday

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

Iris Energy (NASDAQ:IREN) last announced its earnings results on Tuesday, November 26th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.11). Iris Energy had a negative return on equity of 8.01% and a negative net margin of 36.10%. 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 Trading Up 3.7 %

NASDAQ IREN opened at $11.07 on Thursday. The company has a 50 day moving average of $11.79 and a 200-day moving average of $9.87. Iris Energy has a 1-year low of $3.59 and a 1-year high of $15.92.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Iris Energy in a report on Wednesday, November 27th. Canaccord Genuity Group boosted their price target on Iris Energy from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. B. Riley increased their price objective on shares of Iris Energy from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Macquarie raised their target price on shares of Iris Energy from $13.50 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, 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 report on Wednesday, November 27th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.