Iris Energy (NASDAQ:IREN) Upgraded by Roth Capital to “Strong-Buy”

Roth Capital upgraded shares of Iris Energy (NASDAQ:IREN) to a strong-buy rating in a research note published on Tuesday morning, Zacks.com reports. Roth Capital also issued estimates for Iris Energy’s Q1 2025 earnings at ($0.13) EPS, Q2 2025 earnings at $0.03 EPS, Q3 2025 earnings at $0.08 EPS, Q4 2025 earnings at $0.09 EPS, FY2025 earnings at $0.10 EPS, Q1 2026 earnings at ($0.04) EPS, Q2 2026 earnings at ($0.03) EPS, Q3 2026 earnings at $0.04 EPS, Q4 2026 earnings at ($0.01) EPS, FY2026 earnings at ($0.03) EPS and FY2027 earnings at ($0.31) EPS.

A number of other research analysts have also weighed in on IREN. Sanford C. Bernstein began coverage on shares of Iris Energy in a report on Wednesday, July 10th. They issued an outperform rating and a $26.00 target price for the company. Compass Point lowered their price objective on shares of Iris Energy from $18.50 to $16.00 and set a buy rating for the company in a research note on Friday, August 30th. Macquarie increased their price target on shares of Iris Energy from $12.00 to $13.50 and gave the company an outperform rating in a research report on Friday, August 30th. B. Riley cut their price target on shares of Iris Energy from $17.00 to $12.00 and set a buy rating on the stock in a research note on Friday, September 13th. Finally, Roth Mkm assumed coverage on shares of Iris Energy in a report on Wednesday. They issued a buy rating and a $14.00 price target on the stock. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Iris Energy presently has a consensus rating of Buy and a consensus target price of $15.44.

Iris Energy Stock Up 10.7 %

Shares of NASDAQ:IREN opened at $8.68 on Tuesday. The firm’s 50 day simple moving average is $8.00 and its two-hundred day simple moving average is $8.20. Iris Energy has a 1-year low of $2.79 and a 1-year high of $15.75.

Institutional Trading of Iris Energy

Hedge funds have recently made changes to their positions in the company. Quadrature Capital Ltd purchased a new stake in shares of Iris Energy during the fourth quarter valued at $1,655,000. CCG Wealth Management LLC acquired a new stake in shares of Iris Energy during the 1st quarter worth approximately $72,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Iris Energy in the first quarter valued at $502,000. Van ECK Associates Corp lifted its stake in Iris Energy by 23.7% during the first quarter. Van ECK Associates Corp now owns 1,837,683 shares of the company’s stock worth $9,924,000 after purchasing an additional 351,774 shares during the period. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Iris Energy in the 1st quarter valued at approximately $446,000. Hedge funds and other institutional investors own 41.08% of the company’s stock.

Iris Energy Company Profile

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