B. Riley Comments on IREN's FY2025 Earnings (NASDAQ:IREN)

IREN Limited (NASDAQ:IREN - Free Report) - Investment analysts at B. Riley upped their FY2025 earnings per share (EPS) estimates for IREN in a research note issued to investors on Wednesday, July 9th. B. Riley analyst N. Giles now forecasts that the company will post earnings per share of $0.18 for the year, up from their prior estimate 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 - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported $0.11 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $153.38 million.

IREN has been the subject of a number of other reports. Macquarie lifted their price target on IREN from $15.50 to $20.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. Wall Street Zen raised IREN from a "sell" rating to a "hold" rating in a report on Saturday. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $23.00 price target on shares of IREN in a report on Friday, May 16th. Finally, HC Wainwright cut their price target on IREN from $22.00 to $21.00 and set a "buy" rating for the company in a report on Thursday, May 15th. Two investment 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's stock. According to MarketBeat.com, IREN has a consensus rating of "Moderate Buy" and a consensus target price of $20.44.

IREN Stock Performance

Shares of IREN stock traded down $0.80 during trading on Thursday, reaching $16.23. The company's stock had a trading volume of 23,452,451 shares, compared to its average volume of 16,749,490. The stock has a 50-day moving average price of $10.66 and a two-hundred day moving average price of $9.43. IREN has a one year low of $5.13 and a one year high of $18.54.

Hedge Funds Weigh In On IREN

Several institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC grew its position in shares of IREN by 59.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 25,038 shares of the company's stock worth $365,000 after buying an additional 9,384 shares during the period. AFG Fiduciary Services Limited Partnership acquired a new position in shares of IREN during the 2nd quarter worth about $254,000. Wealth Enhancement Advisory Services LLC grew its position in shares of IREN by 5.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 61,248 shares of the company's stock worth $892,000 after buying an additional 3,307 shares during the period. Baader Bank Aktiengesellschaft acquired a new position in shares of IREN during the 2nd quarter worth about $4,808,000. Finally, Balefire LLC acquired a new position in shares of IREN during the 2nd quarter worth about $1,214,000. 41.08% of the stock is currently owned by institutional investors and hedge funds.

About IREN

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