Roth Capital Issues Pessimistic Outlook for IREN Earnings

Key Points

• Roth Capital has revised its Q2 2026 earnings per share estimate for IREN from $0.14 to $0.03, maintaining a "Buy" rating with a price target of $35.00.
• Despite recent earnings reporting a profit of $0.19 per share, IREN has received mixed ratings from analysts, with several firms issuing "buy" ratings but others downgrading or holding their positions.
• Insider trading revealed that CEO Daniel John Roberts sold 1,000,000 shares of IREN, reducing his ownership by 6.67%, while insider ownership stands at 21.55% of the company.

IREN Limited (NASDAQ:IREN - Free Report) - Equities research analysts at Roth Capital cut their Q2 2026 earnings per share estimates for shares of IREN in a research report issued to clients and investors on Tuesday, September 23rd. Roth Capital analyst D. Aftahi now anticipates that the company will post earnings of $0.03 per share for the quarter, down from their previous forecast of $0.14. Roth Capital has a "Buy" rating and a $35.00 price objective on the stock. The consensus estimate for IREN's current full-year earnings is $0.43 per share. Roth Capital also issued estimates for IREN's Q3 2026 earnings at ($0.17) EPS, Q4 2026 earnings at $0.00 EPS, FY2026 earnings at ($0.01) EPS and FY2027 earnings at $0.58 EPS.

IREN (NASDAQ:IREN - Get Free Report) last released its earnings results on Thursday, August 28th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. The company had revenue of $187.30 million during the quarter, compared to the consensus estimate of $187.51 million. IREN had a return on equity of 1.34% and a net margin of 33.03%.

Several other research firms also recently weighed in on IREN. Compass Point began coverage on IREN in a research report on Monday, September 15th. They issued a "buy" rating for the company. Arete began coverage on IREN in a research note on Wednesday. They issued a "buy" rating and a $78.00 price objective for the company. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $16.00 price objective (up previously from $12.00) on shares of IREN in a research note on Monday, July 28th. Jones Trading cut IREN from a "buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. Finally, Cantor Fitzgerald lifted their price objective on IREN from $27.00 to $41.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, IREN has an average rating of "Moderate Buy" and an average price target of $39.45.

IREN Stock Performance

NASDAQ IREN opened at $47.14 on Thursday. The company has a market cap of $12.82 billion, a P/E ratio of 79.90 and a beta of 4.03. The company has a debt-to-equity ratio of 0.53, a current ratio of 4.29 and a quick ratio of 4.29. The stock has a 50-day moving average of $24.33 and a two-hundred day moving average of $14.25. IREN has a 1-year low of $5.13 and a 1-year high of $49.30.

Institutional Investors Weigh In On IREN

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Drive Wealth Management LLC lifted its stake in IREN by 3.0% in the second quarter. Drive Wealth Management LLC now owns 40,924 shares of the company's stock valued at $596,000 after buying an additional 1,179 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of IREN by 11.7% in the first quarter. Wellington Management Group LLP now owns 13,212 shares of the company's stock valued at $80,000 after purchasing an additional 1,387 shares during the period. Centaurus Financial Inc. increased its holdings in shares of IREN by 5.3% in the second quarter. Centaurus Financial Inc. now owns 31,150 shares of the company's stock valued at $454,000 after purchasing an additional 1,570 shares during the period. Main Management ETF Advisors LLC increased its holdings in shares of IREN by 1.7% in the second quarter. Main Management ETF Advisors LLC now owns 105,528 shares of the company's stock valued at $1,538,000 after purchasing an additional 1,716 shares during the period. Finally, Advisors Asset Management Inc. increased its holdings in shares of IREN by 68.4% in the second quarter. Advisors Asset Management Inc. now owns 4,528 shares of the company's stock valued at $66,000 after purchasing an additional 1,839 shares during the period. Hedge funds and other institutional investors own 41.08% of the company's stock.

Insiders Place Their Bets

In related news, CEO Daniel John Roberts sold 1,000,000 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $33.13, for a total transaction of $33,130,000.00. Following the completion of the sale, the chief executive officer owned 13,989,696 shares in the company, valued at $463,478,628.48. The trade was a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 21.55% of the stock is currently owned by insiders.

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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