IREN (NASDAQ:IREN – Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($2.16) EPS for the quarter, missing the consensus estimate of ($0.55) by ($1.61), FiscalAI reports. The company had revenue of $137.22 million for the quarter, compared to the consensus estimate of $132.29 million. IREN had a negative return on equity of 13.13% and a net margin of 20.90%.
IREN Price Performance
Shares of NASDAQ IREN traded up $0.95 during mid-day trading on Thursday, reaching $40.53. 40,908,247 shares of the company traded hands, compared to its average volume of 42,818,500. IREN has a fifty-two week low of $22.63 and a fifty-two week high of $76.87. The firm has a market cap of $14.48 billion, a PE ratio of 84.44 and a beta of 4.29. The stock has a fifty day simple moving average of $42.07 and a 200-day simple moving average of $45.60. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.72 and a quick ratio of 3.72.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on IREN shares. Needham & Company LLC restated a “hold” rating on shares of IREN in a research report on Tuesday, July 21st. JPMorgan Chase & Co. boosted their price target on shares of IREN from $39.00 to $46.00 and gave the company an “underweight” rating in a report on Monday, May 11th. Canaccord Genuity Group restated a “buy” rating and set a $79.00 price target on shares of IREN in a research report on Tuesday, July 21st. HC Wainwright increased their price objective on shares of IREN from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Finally, Jefferies Financial Group assumed coverage on shares of IREN in a research report on Thursday, June 18th. They issued a “buy” rating and a $79.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.00.
Hedge Funds Weigh In On IREN
A number of institutional investors and hedge funds have recently added to or reduced their stakes in IREN. Arax Advisory Partners raised its stake in shares of IREN by 306.2% in the 4th quarter. Arax Advisory Partners now owns 979 shares of the company’s stock worth $37,000 after buying an additional 738 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in IREN during the third quarter worth about $67,000. Larson Financial Group LLC raised its position in IREN by 26.7% in the third quarter. Larson Financial Group LLC now owns 1,590 shares of the company’s stock worth $75,000 after acquiring an additional 335 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in IREN by 113.3% in the third quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the company’s stock worth $75,000 after acquiring an additional 850 shares in the last quarter. Finally, Pinnacle Financial Partners Inc. acquired a new stake in IREN in the 3rd quarter valued at about $213,000. 41.08% of the stock is owned by institutional investors.
Key IREN News
Here are the key news stories impacting IREN this week:
- Positive Sentiment: Strong results and guidance from Nvidia helped lift neocloud shares, including IREN, by reinforcing investor confidence in demand for AI infrastructure. IREN stock jumps ahead of earnings as neoclouds cheer Nvidia’s results
- Positive Sentiment: IREN reportedly handed Microsoft its first live AI workload, a milestone that supports the company’s transition from Bitcoin mining toward AI cloud services. Investors will focus on whether this relationship can expand into recurring, material revenue. IREN Hands Microsoft Its First Live AI Workload
- Positive Sentiment: Analyst estimates include an $83 consensus price target, substantially above recent trading levels, reflecting longer-term enthusiasm about IREN’s AI buildout and revenue potential. IREN Limited Receives $83 Consensus Price Target
- Neutral Sentiment: Key earnings issues include progress toward the company’s roughly $4 billion revenue target, AI cloud capacity and customer commitments, funding needs, and management’s outlook for growth. IREN Reports Q4 Earnings Today
- Negative Sentiment: J.P. Morgan maintained its Sell rating, while bearish coverage highlights IREN’s premium valuation, execution risk, and the possibility that AI expansion will take time to generate durable profits. J.P. Morgan Keeps Its Sell Rating on IREN
- Negative Sentiment: Falling Bitcoin-mining revenue, potential impairments, and a prior earnings miss are adding downside risk before the results. Traders also reduced exposure to IREN and other AI-hosting companies ahead of the announcement. IREN to Report Q4 Earnings
About IREN
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.
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