IREN Stock Dips 4.5% Following Q Earnings Miss Despite Bernstein’s Continued Support

TLDR Shares of IREN fell 4.5% during Monday’s trading session, closing at $48.36 with trading volume approximately 14% lighter than usual. The company reported quarterly EPS of ($0.44) versus analyst expectations of ($0.07); revenues of $184.7M fell short of the $229.6M consensus. Year-over-year revenue declined 23.1% for the quarter. Bernstein lowered its price objective from $125 to $100 while maintaining IREN as its preferred choice among AI-oriented Bitcoin mining companies. Wall Street consensus reflects a “Moderate Buy” rating with an average price objective of $70.08 amid varied analyst opinions. Shares of IREN experienced a 4.5% decline on Monday, hitting an intraday low of $47.66 before closing at $48.36. This represented a drop from the previous session’s close of $50.64. Trading activity reached approximately 32.9 million shares — roughly 14% lighter than the typical daily volume of 38 million. IREN Limited, IREN The stock’s decline came on the heels of a quarterly financial report that significantly underperformed Wall Street’s projections. The company reported an earnings loss of ($0.44) per share, substantially worse than the analyst consensus estimate of ($0.07). This marked a shortfall of ($0.37) per share. On the revenue front, IREN also underdelivered. The firm generated $184.7 million in quarterly revenue, falling notably short of the $229.6 million analysts had anticipated. This represented a 23.1% year-over-year decline from the comparable period. Adding to the day’s negative sentiment, Bernstein SocGen lowered its price objective for IREN from $125 down to $100. However, the firm maintained its conviction in the stock, continuing to rank IREN as its preferred investment within the AI-centric Bitcoin mining sector. Bernstein’s maintained confidence stems from IREN’s aggressive GPU infrastructure expansion. The company has secured contracts for 150,000 GPUs, infrastructure that could generate approximately $3.7 billion in annualized recurring ...