HC Wainwright Estimates IREN’s Q2 Earnings (NASDAQ:IREN)

IREN Limited (NASDAQ:IREN) – Research analysts at HC Wainwright cut their Q2 2026 EPS estimates for shares of IREN in a note issued to investors on Tuesday, January 13th. HC Wainwright analyst M. Colonnese now anticipates that the company will post earnings of ($0.13) per share for the quarter, down from their prior forecast of ($0.06). HC Wainwright has a “Buy” rating and a $80.00 price objective 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 Q3 2026 earnings at ($0.18) EPS, Q4 2026 earnings at ($0.12) EPS, FY2026 earnings at ($0.80) EPS, Q1 2027 earnings at ($0.04) EPS, Q2 2027 earnings at $0.01 EPS, Q3 2027 earnings at ($0.03) EPS, Q4 2027 earnings at ($0.03) EPS and FY2027 earnings at ($0.10) EPS.

A number of other research analysts have also recently issued reports on IREN. Zacks Research upgraded IREN from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 16th. BTIG Research raised their price target on shares of IREN from $32.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. UBS Group reiterated a “buy” rating on shares of IREN in a research report on Friday, November 7th. JPMorgan Chase & Co. raised their target price on shares of IREN from $28.00 to $39.00 and gave the company an “underweight” rating in a research report on Monday, November 24th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $75.00 price target on shares of IREN in a report on Thursday, September 25th. Thirteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, IREN presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.36.

IREN Trading Up 11.2%

Shares of IREN opened at $57.72 on Thursday. IREN has a 52-week low of $5.13 and a 52-week high of $76.87. The business’s fifty day moving average is $45.28 and its 200-day moving average is $38.65. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.52 and a current ratio of 5.52. The firm has a market cap of $16.36 billion, a price-to-earnings ratio of 29.75 and a beta of 4.25.

IREN (NASDAQ:IREN) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.48). The business had revenue of $240.30 million during the quarter, compared to analyst estimates of $244.60 million. IREN had a net margin of 86.96% and a negative return on equity of 3.60%. The company’s revenue for the quarter was up 28.3% compared to the same quarter last year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IREN. Formidable Asset Management LLC increased its holdings in IREN by 24.4% in the fourth quarter. Formidable Asset Management LLC now owns 31,536 shares of the company’s stock worth $1,191,000 after purchasing an additional 6,186 shares in the last quarter. Lodestone Wealth Management LLC bought a new stake in shares of IREN in the 4th quarter valued at $57,000. Spire Wealth Management lifted its position in shares of IREN by 25.8% during the 4th quarter. Spire Wealth Management now owns 8,655 shares of the company’s stock valued at $327,000 after acquiring an additional 1,775 shares during the period. Avaii Wealth Management LLC boosted its stake in IREN by 208.9% during the fourth quarter. Avaii Wealth Management LLC now owns 145,767 shares of the company’s stock worth $5,506,000 after acquiring an additional 98,581 shares in the last quarter. Finally, Benin Management CORP acquired a new stake in IREN in the fourth quarter worth $211,000. 41.08% of the stock is owned by institutional investors.

Key IREN News

Here are the key news stories impacting IREN this week:

• Positive Sentiment: HC Wainwright upgraded IREN to a “Buy” with an $80 price target; the upgrade and associated investor notes helped lift sentiment and trading interest. HC Wainwright Upgrades IREN to Buy
• Positive Sentiment: Zacks highlights IREN’s vertically integrated AI cloud (noting an 85% EBITDA Microsoft deal, lower power costs and improving margins) — this underpins a path to higher profitability and supports a re-rating if execution continues. Can IREN’s Vertically Integrated AI Cloud Platform Lift Profitability?
• Positive Sentiment: Multiple outlet pieces (Zacks, MarketBeat) put IREN among AI/GPU infrastructure names gaining momentum, reinforcing the narrative that IREN is a beneficiary of rising GPU-as-a-service demand. 3 Beaten Down AI Stocks Gaining Momentum (IREN, NBIS, CRWV)
• Positive Sentiment: Social and retail interest spiked — IREN topped X’s most-searched cashtags, signaling higher retail/institutional attention that can amplify moves on positive news. Bitcoin miner IREN tops X’s most searched cashtags
• Neutral Sentiment: MarketBeat ranked IREN among the top GPU-as-a-service providers for 2026 but noted it’s “not the best” — owns data centers and has hyperscaler deals, yet client concentration and competition are concerns (mixed implication). The 5 Best GPU-as-a-Service Providers for 2026—And 1 Clear Winner
• Positive Sentiment: Coverage comparing IREN to peers (e.g., HUT 8) emphasizes IREN’s renewable-powered, vertically integrated platform and AI focus as differentiation during BTC volatility — a strategic narrative supportive of longer-term upside. IREN or HUT: Which Bitcoin Infrastructure Stock Should You Bet On?
• Negative Sentiment: HC Wainwright’s models show mixed near-term revisions — several Q2–Q4 2026 estimates and FY2026 were trimmed (increasing near-term EPS risk), even as FY2027 estimates were improved. That divergence highlights execution and timing risk for profitability. MarketBeat IREN coverage (HC Wainwright estimates)
• Positive Sentiment: Local/foreign press pieces note a strategic shift from pure bitcoin mining toward AI infrastructure — if sustained, this re-positioning could command higher multiples tied to AI demand vs. cyclical BTC exposure. Iren’s Strategic Shift: From Bitcoin Mining to AI Infrastructure

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.