Iris Energy (NASDAQ:IREN) Issues Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Posted by Brian Himes on Feb 12th, 2025

Iris Energy (NASDAQ:IREN – Get Free Report) issued its quarterly earnings data on Wednesday. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.13, Zacks reports. Iris Energy had a negative return on equity of 8.01% and a negative net margin of 36.10%.

Iris Energy Price Performance

Shares of IREN stock traded up $0.59 on Wednesday, hitting $13.01. 13,590,907 shares of the company’s stock were exchanged, compared to its average volume of 16,483,852. Iris Energy has a 12 month low of $4.15 and a 12 month high of $15.92. The company has a 50 day moving average of $11.74 and a 200 day moving average of $9.92.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Cantor Fitzgerald upped their price target on shares of Iris Energy from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. restated a “neutral” rating and set a $15.00 target price (up previously from $9.50) on shares of Iris Energy in a research report on Tuesday, December 10th. Needham & Company LLC reiterated a “hold” rating on shares of Iris Energy in a research report on Wednesday, November 27th. Canaccord Genuity Group increased their price target on Iris Energy from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, HC Wainwright lifted their price objective on Iris Energy from $13.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.50.

Check Out Our Latest Research Report on IREN