B. Riley Weighs in on IREN’s FY2025 Earnings (NASDAQ:IREN)

IREN Limited (NASDAQ:IREN) – Analysts at B. Riley raised their FY2025 earnings estimates for IREN in a note issued to investors 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 forecast of $0.15. B. Riley currently has a “Buy” rating and a $22.00 price objective 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.

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

IREN has been the subject of several other research reports. Canaccord Genuity Group restated a “buy” rating and issued a $23.00 price target on shares of IREN in a research note on Friday, May 16th. Wall Street Zen downgraded shares of IREN from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. upgraded shares of IREN from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $15.00 to $12.00 in a research note on Thursday, March 13th. HC Wainwright lowered their target price on shares of IREN from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, May 15th. Finally, Macquarie boosted 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.44.

IREN Stock Performance

NASDAQ:IREN opened at $17.03 on Thursday. The company has a fifty day simple moving average of $10.47 and a two-hundred day simple moving average of $9.43. IREN has a 52 week low of $5.13 and a 52 week high of $18.54.

Hedge Funds Weigh In On IREN

A number of institutional investors and hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in IREN by 96.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 710,890 shares of the company’s stock valued at $6,981,000 after acquiring an additional 348,864 shares during the last quarter. Farther Finance Advisors LLC purchased a new stake in IREN in the fourth quarter valued at $98,000. Advantage Alpha Capital Partners LP purchased a new stake in IREN in the fourth quarter valued at $423,000. Parametrica Management Ltd purchased a new stake in IREN in the fourth quarter valued at $136,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in IREN in the fourth quarter valued at $179,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

About IREN

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