Iris Energy Limited (NASDAQ: IREN – Get a rating) – Stock analysts at HC Wainwright cut their Q2 2023 earnings per share estimates for Iris Energy in a research report issued to clients and investors on Tuesday, November 22nd. HC Wainwright analyst M. Callanez now expects that the company will post earnings of ($0.16) per share for the quarter, up from their previous forecast of ($0.06). HC Wainwright has a “Neutral” rating and a $3.00 target price on the stock. The consensus estimate for Iris Energy’s current full-year earnings is ($0.13) per share. HC Wainwright also issued estimates for Iris Energy’s Q3 2023 earnings at ($0.12) per share, Q4 2023 earnings per share at ($0.13) and FY2023 earnings per share. year at the level of ($0.52) per share.
IREN has been the subject of a number of other reports. Citigroup cut their price objective on shares of Iris Energy from $8.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, September 15th. Cantor Fitzgerald cut shares of Iris Energy from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $7.00 to $3.00 in a report on Tuesday, November 8th. Cowen downgraded shares of Iris Energy from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $14.00 to $4.30 in a research note on Thursday, September 22nd. Cowen downgraded shares of Iris Energy from an “outperform” rating to a “market perform” rating and reduced their target price from $14.00 to $4.30 in a report on Thursday, September 22nd. Finally, JPMorgan Chase & Co. initiated coverage on shares of Iris Energy in a research report on Wednesday, September 28th. They set a “neutral” rating on the stock. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Moderate Buy” and an average target price of $14.46, according to MarketBeat.com.
Iris Energy shares rise 9.8%
NASDAQ IREN opened at $1.68 on Thursday. Iris Energy has a 52 week low of $1.40 and a 52 week high of $21.05. The firm has a 50-day moving average of $3.22 and a 200-day moving average of $4.16. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.88, and a quick ratio of 1.88.
Hedge funds weigh in on Iris Energy
A number of hedge funds have recently made changes to their positions in IREN. UBS Group AG boosted its holdings in shares of Iris Energy by 234.1% in the third quarter. UBS Group AG now owns 14,727 shares of the company’s stock valued at $60,000 after buying an additional 10,319 shares in the last quarter. State Street Corp bought a new position in shares of Iris Energy in the 3rd quarter valued at $135,000. BlackRock Inc. grew its stake in shares of Iris Energy by 230.1% in the 3rd quarter. Now BlackRock Inc. now owns 48,020 shares of the company’s stock valued at $198,000 after buying an additional 33,474 shares in the last quarter. Invesco Ltd. acquired a new position in shares of Iris Energy in the 1st quarter valued at $214,000. Finally, Empowered Funds LLC boosted its holdings in shares of Iris Energy by 60.3% in the 2nd quarter. Empowered Funds LLC now owns 77,223 shares of the company’s stock valued at $259,000 after purchasing an additional 29,046 shares in the last quarter. Institutional investors and hedge funds own 9.71% of the company’s shares.
Iris Energy Company Profile
Iris Energy Limited owns and operates Bitcoin mining data centers in Canada, the United States, and the Asia Pacific region. The company was incorporated in 2018 and is headquartered in Sydney, Australia.
Get news and ratings for Iris Energy Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Iris Energy and related companies. MarketBeat.com’s FREE Daily E-Newsletter.
https://www.defenseworld.net/2022/11/25/brokers-issue-forecasts-for-iris-energy-limiteds-q2-2023-earnings-nasdaqiren.html Brokerages Issue Q2 2023 Earnings Estimates for Iris Energy Limited (NASDAQ:IREN)