Iris Energy (NASDAQ:IREN) Price Target Raised to $16.00

Iris Energy (NASDAQ:IREN) had its target price lifted by HC Wainwright from $13.00 to $16.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Iris Energy’s Q3 2025 earnings at $0.12 EPS.

Several other analysts have also recently commented on IREN. Compass Point reduced their target price 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. Canaccord Genuity Group restated a “buy” rating and issued a $15.00 price objective on shares of Iris Energy in a research report on Thursday, August 29th. Roth Mkm started coverage on Iris Energy in a research note on Wednesday, October 2nd. They set a “buy” rating and a $14.00 target price for the company. JPMorgan Chase & Co. decreased their price target on Iris Energy from $11.00 to $9.50 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Finally, Roth Capital upgraded Iris Energy to a “strong-buy” rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $16.33.

Iris Energy Trading Up 9.0 %

Shares of IREN stock opened at $13.51 on Wednesday. The business’s 50 day moving average is $9.51 and its two-hundred day moving average is $9.50. Iris Energy has a twelve month low of $3.56 and a twelve month high of $15.75.

Institutional Investors Weigh In On Iris Energy

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

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.