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

Roth Capital upgraded shares of Iris Energy (NASDAQ:IREN) to a strong-buy rating in a research report sent to investors 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.

IREN has been the topic of a number of other research reports. Cantor Fitzgerald reduced their target price on Iris Energy from $23.00 to $20.00 and set an overweight rating on the stock in a report on Thursday, August 29th. JPMorgan Chase & Co. decreased their target price on Iris Energy from $11.00 to $9.50 and set an overweight rating for the company in a research report on Friday, August 23rd. HC Wainwright lowered their target price on Iris Energy from $15.00 to $13.00 and set a buy rating on the stock in a research report on Thursday, August 29th. Needham & Company LLC initiated coverage on Iris Energy in a research note on Wednesday, September 4th. They set a hold rating on the stock. Finally, Sanford C. Bernstein started coverage on shares of Iris Energy in a research report on Wednesday, July 10th. They issued an outperform rating and a $26.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Iris Energy currently has a consensus rating of Buy and an average target price of $15.44.

Iris Energy Price Performance

NASDAQ IREN opened at $8.68 on Tuesday. The stock has a 50 day moving average of $8.00 and a 200-day moving average of $8.20. Iris Energy has a 12 month low of $2.79 and a 12 month high of $15.75.

Institutional Trading of Iris Energy

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

About Iris Energy

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