HC Wainwright Decreases Earnings Estimates for Iris Energy

Iris Energy Limited (NASDAQ:IREN - Free Report) - Equities researchers at HC Wainwright cut their FY2025 earnings estimates for shares of Iris Energy in a research note issued to investors on Thursday, May 15th. HC Wainwright analyst M. Colonnese now anticipates that the company will post earnings of $0.23 per share for the year, down from their previous estimate of $0.45. HC Wainwright currently has a "Buy" rating and a $21.00 price objective on the stock. The consensus estimate for Iris Energy's current full-year earnings is $0.43 per share. HC Wainwright also issued estimates for Iris Energy's Q4 2025 earnings at $0.21 EPS and Q1 2026 earnings at $0.34 EPS.

Several other equities research analysts have also commented on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Iris Energy in a research report on Thursday, February 13th. B. Riley boosted their target price on shares of Iris Energy from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Macquarie boosted their target price on shares of Iris Energy from $15.50 to $20.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. raised shares of Iris Energy from a "neutral" rating to an "overweight" rating and cut their target price for the company from $15.00 to $12.00 in a research note on Thursday, March 13th. Finally, Wall Street Zen downgraded shares of Iris Energy from a "hold" rating to a "sell" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $20.30.

Iris Energy Price Performance

Shares of Iris Energy stock traded down $0.16 on Monday, hitting $9.12. The company's stock had a trading volume of 14,973,969 shares, compared to its average volume of 16,215,075. Iris Energy has a 52-week low of $5.13 and a 52-week high of $15.92. The firm has a fifty day moving average price of $6.68 and a 200-day moving average price of $9.50.

Iris Energy (NASDAQ:IREN - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.06). Iris Energy had a negative return on equity of 3.98% and a negative net margin of 17.94%. The business had revenue of $148.10 million during the quarter, compared to analysts' expectations of $153.38 million.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in shares of Iris Energy by 11.7% during the 1st quarter. Wellington Management Group LLP now owns 13,212 shares of the company's stock valued at $80,000 after acquiring an additional 1,387 shares during the last quarter. Sippican Capital Advisors increased its stake in shares of Iris Energy by 15.1% during the 4th quarter. Sippican Capital Advisors now owns 12,780 shares of the company's stock valued at $126,000 after acquiring an additional 1,680 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Iris Energy by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,268 shares of the company's stock valued at $123,000 after acquiring an additional 2,035 shares during the last quarter. Drive Wealth Management LLC increased its stake in shares of Iris Energy by 5.8% during the 4th quarter. Drive Wealth Management LLC now owns 39,690 shares of the company's stock valued at $390,000 after acquiring an additional 2,193 shares during the last quarter. Finally, Stonebridge Financial Group LLC acquired a new position in shares of Iris Energy during the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 41.08% of the company's stock.

About Iris Energy

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