B. Riley Issues Optimistic Forecast for IREN Earnings

IREN Limited (NASDAQ:IREN - Free Report) - Investment analysts at B. Riley boosted their Q4 2025 EPS estimates for shares of IREN in a research note issued on Wednesday, July 9th. B. Riley analyst N. Giles now forecasts that the company will earn $0.17 per share for the quarter, up from their prior forecast of $0.13. B. Riley 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 FY2027 earnings at $0.63 EPS.

Other equities analysts have also recently issued research reports about the stock. HC Wainwright dropped their price objective 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. Macquarie increased their price objective on shares of IREN from $15.50 to $20.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Canaccord Genuity Group restated a "buy" rating and issued a $23.00 price objective on shares of IREN in a research note on Friday, May 16th. Finally, Wall Street Zen upgraded shares of IREN from a "sell" rating to a "hold" rating in a research note on Saturday. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $20.44.

IREN Trading Up 6.5%

Shares of IREN stock traded up $1.05 during mid-day trading on Friday, reaching $17.28. The company's stock had a trading volume of 42,067,501 shares, compared to its average volume of 17,621,494. IREN has a 1-year low of $5.13 and a 1-year high of $18.64. The firm's 50-day moving average is $10.66 and its two-hundred day moving average is $9.43.

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

Institutional Investors Weigh In On IREN

Hedge funds have recently made changes to their positions in the company. Main Management LLC acquired a new stake in shares of IREN during the 4th quarter worth about $49,000. Crewe Advisors LLC acquired a new stake in IREN in the 1st quarter valued at about $39,000. Quarry LP acquired a new stake in IREN in the 1st quarter valued at about $40,000. Tower Research Capital LLC TRC increased its position in IREN by 1,059.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,368 shares of the company's stock valued at $82,000 after acquiring an additional 7,646 shares in the last quarter. Finally, Farther Finance Advisors LLC acquired a new stake in IREN in the 4th quarter valued at about $98,000. 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.