Iris Energy (NASDAQ:IREN) Given New $16.00 Price Target at B. Riley

Iris Energy (NASDAQ:IREN) had its price target boosted by B. Riley from $15.00 to $16.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the stock. B. Riley also issued estimates for Iris Energy’s Q3 2025 earnings at $0.09 EPS.

IREN has been the subject of a number of other reports. HC Wainwright raised their price target on shares of Iris Energy from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Cantor Fitzgerald raised their price objective on shares of Iris Energy from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Roth Mkm assumed 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. Roth Capital upgraded shares of Iris Energy to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $15.00 price objective (up previously from $9.50) on shares of Iris Energy in a report on Tuesday, December 10th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.50.

Iris Energy Price Performance

IREN traded up $0.04 during trading on Thursday, reaching $11.46. 2,009,164 shares of the stock were exchanged, compared to its average volume of 13,773,612. Iris Energy has a twelve month low of $3.56 and a twelve month high of $15.92. The stock’s 50 day moving average price is $11.01 and its two-hundred day moving average price is $10.19.

Institutional Investors Weigh In On Iris Energy

Hedge funds have recently modified their holdings of the stock. D1 Capital Partners L.P. purchased a new position in shares of Iris Energy in the 2nd quarter worth about $17,319,000. Hood River Capital Management LLC acquired a new position in Iris Energy during the 2nd quarter valued at approximately $13,618,000. Marshall Wace LLP increased its position in Iris Energy by 33.6% in the second quarter. Marshall Wace LLP now owns 3,811,780 shares of the company’s stock worth $43,035,000 after buying an additional 958,494 shares during the period. Bank of Montreal Can acquired a new position in shares of Iris Energy during the second quarter valued at $9,969,000. Finally, Van ECK Associates Corp grew its position in shares of Iris Energy by 56.1% during the third quarter. Van ECK Associates Corp now owns 1,605,671 shares of the company’s stock worth $13,938,000 after acquiring an additional 576,726 shares during the last quarter. 41.08% of the stock is owned by institutional investors and hedge funds.

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.