HC Wainwright Issues Negative Forecast for IREN Earnings

IREN Limited (NASDAQ:IREN) – HC Wainwright cut their Q3 2026 earnings per share (EPS) estimates for shares of IREN in a report issued on Monday, February 9th. HC Wainwright analyst M. Colonnese now expects that the company will post earnings of ($0.30) per share for the quarter, down from their previous estimate of ($0.18). HC Wainwright has a “Buy” rating and a $80.00 price target on the stock. The consensus estimate for IREN’s current full-year earnings is $0.43 per share. HC Wainwright also issued estimates for IREN’s Q4 2026 earnings at ($0.23) EPS, FY2026 earnings at ($1.12) EPS, Q1 2027 earnings at ($0.14) EPS, Q2 2027 earnings at ($0.11) EPS, Q3 2027 earnings at ($0.14) EPS, Q4 2027 earnings at ($0.13) EPS and FY2027 earnings at ($0.51) EPS.

IREN (NASDAQ:IREN) last released its earnings results on Thursday, February 5th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.37). IREN had a net margin of 56.59% and a negative return on equity of 10.01%. The firm had revenue of $184.69 million during the quarter, compared to analysts’ expectations of $229.64 million. The business’s revenue was down 23.1% compared to the same quarter last year.

Several other research firms also recently weighed in on IREN. Citizens Jmp started coverage on shares of IREN in a research note on Wednesday, November 19th. They issued a “market outperform” rating and a $80.00 price target on the stock. Roth Mkm set a $94.00 target price on shares of IREN and gave the stock a “buy” rating in a research note on Monday, November 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of IREN in a research report on Monday, December 29th. Macquarie Infrastructure increased their price target on IREN to $86.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Finally, Cantor Fitzgerald reduced their price objective on IREN to $82.00 and set an “overweight” rating on the stock in a research report on Friday. Thirteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.29.

IREN Trading Down 7.0%

Shares of IREN stock opened at $42.93 on Wednesday. IREN has a fifty-two week low of $5.13 and a fifty-two week high of $76.87. The company has a debt-to-equity ratio of 1.51, a quick ratio of 4.96 and a current ratio of 4.96. The stock’s fifty day moving average is $46.48 and its two-hundred day moving average is $43.13. The firm has a market capitalization of $12.17 billion, a P/E ratio of 32.28 and a beta of 4.27.

Institutional Investors Weigh In On IREN

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IREN. Vise Technologies Inc. grew its holdings in shares of IREN by 7.9% during the 4th quarter. Vise Technologies Inc. now owns 5,780 shares of the company’s stock worth $218,000 after purchasing an additional 424 shares during the period. TD Asset Management Inc acquired a new position in IREN in the fourth quarter valued at about $2,135,000. Peapack Gladstone Financial Corp boosted its stake in IREN by 15.3% during the fourth quarter. Peapack Gladstone Financial Corp now owns 27,900 shares of the company’s stock worth $1,054,000 after buying an additional 3,700 shares during the period. BNP Paribas Financial Markets purchased a new position in IREN during the fourth quarter worth about $158,677,000. Finally, Foundations Investment Advisors LLC increased its position in shares of IREN by 31.2% during the fourth quarter. Foundations Investment Advisors LLC now owns 151,832 shares of the company’s stock valued at $5,735,000 after acquiring an additional 36,078 shares during the last quarter. Hedge funds and other institutional investors own 41.08% of the company’s stock.

IREN News Roundup

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN’s strategic shift into AI infrastructure and a reported Microsoft contract materially reshape its growth story and reduce perceived long-term risk from legacy lines — a potential bullish catalyst for valuation and investor interest. IREN Pivot To AI Infrastructure With Microsoft Contract Reshapes Risk Profile
• Positive Sentiment: Canaccord Genuity reaffirmed a “buy” rating and a $70 price target, signaling analyst conviction that IREN can capture AI-related upside (price target implies significant upside from current levels). Read More
• Positive Sentiment: Short interest fell sharply in January (down ~20% to ~40.9M shares, ~15.2% of float, short-interest ratio ~0.8 days), indicating heavy short covering — this reduces immediate downward pressure and can support short-term rallies if momentum resumes.
• Positive Sentiment: Sector-level bullish research (Zacks pieces on AI infrastructure capex and market breadth, and a 247WallStreet feature) support a favorable macro backdrop for IREN as an AI-infrastructure play, which could lift sentiment and multiple expansion. CAPEX & Cash Flow: The Bull Case for AI Infrastructure Stocks
• Neutral Sentiment: Zacks and other analyst commentary highlight strong AI cloud momentum but warn of rising competition and premium valuation, leading some to recommend a cautious “hold” rather than an outright buy. Should You Buy, Sell or Hold IREN Stock Post Q2 Earnings?
• Negative Sentiment: Macquarie trimmed its price target to $70 while keeping an Outperform rating — a sign of moderated upside expectations that can cap near-term gains. Macquarie Lowers Iren PT to $70
• Negative Sentiment: Fundamental headwinds remain: the company reported a Q2 EPS miss and a notable revenue decline year-over-year, which continues to weigh on near-term profitability and investor confidence (key reason for today’s negative price action).

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.