B. Riley Issues Positive Forecast for Iris Energy Earnings

Iris Energy Limited (NASDAQ:IREN - Free Report) - B. Riley lifted their Q3 2025 earnings per share (EPS) estimates for shares of Iris Energy in a research note issued to investors on Wednesday, December 18th. B. Riley analyst L. Pipes now forecasts that the company will post earnings per share of $0.09 for the quarter, up from their previous forecast of $0.07. B. Riley currently has a "Buy" rating and a $16.00 target price on the stock. The consensus estimate for Iris Energy's current full-year earnings is $0.01 per share.

Several other research analysts also recently weighed in on the stock. BTIG Research started coverage on shares of Iris Energy in a research report on Friday. They issued a "buy" rating and a $33.00 target price on the stock. Compass Point lowered their price objective on shares of Iris Energy from $18.50 to $16.00 and set a "buy" rating on the stock in a research report on Friday, August 30th. Roth Capital raised shares of Iris Energy to a "strong-buy" rating in a research note on Tuesday, October 1st. Macquarie raised their target price on Iris Energy from $13.50 to $19.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Finally, Roth Mkm initiated coverage on Iris Energy in a research report on Wednesday, October 2nd. They set a "buy" rating and a $14.00 price target on the stock. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $19.50.

Iris Energy Trading Up 3.5 %

IREN traded up $0.40 during trading on Friday, reaching $11.81. The company had a trading volume of 14,204,444 shares, compared to its average volume of 13,826,229. Iris Energy has a 12-month low of $3.56 and a 12-month high of $15.92. The firm's 50-day simple moving average is $11.09 and its 200 day simple moving average is $10.20.

Hedge Funds Weigh In On Iris Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. D1 Capital Partners L.P. acquired a new position in shares of Iris Energy during the 2nd quarter worth $17,319,000. Hood River Capital Management LLC bought a new stake in Iris Energy in the second quarter worth $13,618,000. Marshall Wace LLP increased its position in Iris Energy by 33.6% during the second quarter. Marshall Wace LLP now owns 3,811,780 shares of the company's stock worth $43,035,000 after buying an additional 958,494 shares during the last quarter. Bank of Montreal Can bought a new position in Iris Energy during the second quarter valued at about $9,969,000. Finally, Van ECK Associates Corp lifted its position in shares of Iris Energy by 56.1% in the third quarter. Van ECK Associates Corp now owns 1,605,671 shares of the company's stock worth $13,938,000 after buying an additional 576,726 shares during the last quarter. Institutional investors own 41.08% of the company's stock.

Iris Energy Company Profile

Iris Energy Limited owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.