B. Riley Has Positive Estimate for IREN FY2025 Earnings

IREN Limited (NASDAQ:IREN) – B. Riley increased their FY2025 earnings per share (EPS) estimates for shares of IREN in a report issued on Wednesday, July 9th. B. Riley analyst N. Giles now expects that the company will post earnings of $0.18 per share for the year, up from their previous estimate of $0.15. B. Riley has a “Buy” rating and a $22.00 price target on the stock. The consensus estimate for IREN’s current full-year earnings is $0.43 per share. B. Riley also issued estimates for IREN’s FY2026 earnings at $0.67 EPS.

A number of other research analysts have also weighed in on the stock. JPMorgan Chase & Co. raised shares of IREN from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $15.00 to $12.00 in a research note on Thursday, March 13th. Macquarie raised their target price on shares of IREN from $15.50 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. Wall Street Zen lowered shares of IREN from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. HC Wainwright decreased their target price on shares of IREN from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, May 15th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $23.00 target price on shares of IREN in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.44.

IREN Trading Up 0.4%

IREN stock opened at $17.03 on Thursday. IREN has a 12-month low of $5.13 and a 12-month high of $18.54. The business’s 50-day moving average is $10.47 and its 200 day moving average is $9.43.

IREN (NASDAQ:IREN) last posted its quarterly earnings data on Wednesday, May 14th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.06). IREN had a negative return on equity of 2.12% and a negative net margin of 9.40%. The firm had revenue of $148.10 million during the quarter, compared to analyst estimates of $153.38 million.

Institutional Trading of IREN

Several institutional investors have recently made changes to their positions in IREN. Arrowstreet Capital Limited Partnership raised its position in IREN by 1,307.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,684,836 shares of the company’s stock valued at $55,825,000 after purchasing an additional 5,280,999 shares during the period. Situational Awareness LP purchased a new stake in IREN in the first quarter valued at approximately $20,500,000. Discovery Capital Management LLC CT purchased a new stake in IREN in the fourth quarter valued at approximately $11,544,000. Two Sigma Investments LP raised its position in IREN by 193.2% in the fourth quarter. Two Sigma Investments LP now owns 1,602,642 shares of the company’s stock valued at $15,738,000 after purchasing an additional 1,056,005 shares during the period. Finally, Regal Partners Ltd raised its position in IREN by 93.9% in the fourth quarter. Regal Partners Ltd now owns 1,697,554 shares of the company’s stock valued at $16,670,000 after purchasing an additional 822,251 shares during the period. Hedge funds and other institutional investors own 41.08% of the company’s stock.

IREN Company Profile

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