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

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

Other research analysts also recently issued reports about the company. HC Wainwright upped their target price on Iris Energy from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $15.00 target price (up from $9.50) on shares of Iris Energy in a report on Tuesday, December 10th. Compass Point decreased their price objective on Iris Energy from $18.50 to $16.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Cantor Fitzgerald lifted their price target 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. Finally, Macquarie boosted their price objective on Iris Energy from $13.50 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Two research analysts have 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, Iris Energy currently has a consensus rating of “Moderate Buy” and an average price target of $19.50.

Iris Energy Price Performance

Shares of IREN stock opened at $11.81 on Thursday. Iris Energy has a fifty-two week low of $3.56 and a fifty-two week high of $15.92. The stock’s 50-day simple moving average is $11.17 and its 200-day simple moving average is $10.23.

Institutional Investors Weigh In On Iris Energy

Several hedge funds have recently modified their holdings of IREN. Cambridge Investment Research Advisors Inc. boosted its position in shares of Iris Energy by 1,521.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 188,051 shares of the company’s stock worth $2,123,000 after buying an additional 176,451 shares during the period. MKP Capital Management L.L.C. acquired a new position in shares of Iris Energy during the second quarter valued at $3,139,000. X Square Capital LLC bought a new position in Iris Energy in the 2nd quarter worth about $508,000. VitalStone Financial LLC increased its position in Iris Energy by 467.1% in the 2nd quarter. VitalStone Financial LLC now owns 79,285 shares of the company’s stock valued at $895,000 after acquiring an additional 65,305 shares during the period. Finally, Central Asset Investments & Management Holdings HK Ltd bought a new stake in shares of Iris Energy during the second quarter valued at about $779,000. 41.08% of the stock is owned by institutional investors and hedge funds.

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.