B. Riley Brokers Reduce Earnings Estimates for Iris Energy

Iris Energy Limited (NASDAQ:IREN) – Equities researchers at B. Riley decreased their Q2 2025 EPS estimates for Iris Energy in a research report issued to clients and investors on Wednesday, November 27th. B. Riley analyst L. Pipes now anticipates that the company will post earnings per share of ($0.09) for the quarter, down from their prior estimate of $0.09. B. Riley currently has a “Buy” rating and a $12.00 target price on the stock. The consensus estimate for Iris Energy’s current full-year earnings is $0.01 per share. B. Riley also issued estimates for Iris Energy’s Q3 2025 earnings at $0.06 EPS, Q4 2025 earnings at $0.10 EPS, FY2025 earnings at ($0.15) EPS, Q1 2026 earnings at $0.15 EPS, Q2 2026 earnings at $0.17 EPS, Q3 2026 earnings at $0.17 EPS, Q4 2026 earnings at $0.14 EPS and FY2026 earnings at $0.63 EPS.

IREN has been the topic of several other reports. Roth Capital raised shares of Iris Energy to a “strong-buy” rating in a research note on Tuesday, October 1st. Needham & Company LLC reiterated a “hold” rating on shares of Iris Energy in a report on Wednesday, November 27th. JPMorgan Chase & Co. cut their price target on shares of Iris Energy from $11.00 to $9.50 and set an “overweight” rating on the stock in a report on Friday, August 23rd. Roth Mkm initiated coverage on shares of Iris Energy in a report on Wednesday, October 2nd. They issued a “buy” rating and a $14.00 price target on the stock. Finally, HC Wainwright lifted their price target on shares of Iris Energy from $13.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $16.33.

Iris Energy Price Performance

IREN stock opened at $12.93 on Monday. Iris Energy has a one year low of $3.56 and a one year high of $15.75. The company’s 50 day moving average price is $9.72 and its two-hundred day moving average price is $9.68.

Institutional Trading of Iris Energy

A number of hedge funds have recently modified their holdings of the business. Marshall Wace LLP boosted its stake in Iris Energy by 33.6% in the 2nd quarter. Marshall Wace LLP now owns 3,811,780 shares of the company’s stock worth $43,035,000 after purchasing an additional 958,494 shares in the last quarter. Van ECK Associates Corp boosted its stake in Iris Energy by 56.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,671 shares of the company’s stock worth $13,938,000 after purchasing an additional 576,726 shares in the last quarter. D1 Capital Partners L.P. purchased a new position in Iris Energy in the 2nd quarter worth about $17,319,000. Hood River Capital Management LLC purchased a new position in Iris Energy in the 2nd quarter worth about $13,618,000. Finally, Bank of Montreal Can purchased a new position in Iris Energy in the 2nd quarter worth about $9,969,000. Institutional investors own 41.08% of the company’s stock.

About Iris Energy

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