Iris Energy (IREN) Projected to Post Quarterly Earnings on Wednesday

Iris Energy (NASDAQ:IREN) is anticipated to post its quarterly earnings results 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. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Iris Energy (NASDAQ:IREN) last announced its quarterly earnings results on Tuesday, November 26th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate 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 Stock Performance

NASDAQ IREN opened at $12.86 on Tuesday. The company has a fifty day moving average of $11.75 and a two-hundred day moving average of $9.90. Iris Energy has a 1 year low of $4.15 and a 1 year high of $15.92.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on IREN shares. BTIG Research began coverage on Iris Energy in a research report on Friday, December 20th. They issued a “buy” rating and a $33.00 target price for the company. Canaccord Genuity Group increased their price objective on Iris Energy from $15.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Iris Energy in a report on Wednesday, November 27th. Macquarie upped their price target on shares of Iris Energy from $13.50 to $19.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, B. Riley raised their price objective on shares of Iris Energy from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Iris Energy presently has an average rating of “Moderate Buy” and an average price target of $19.50.

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.