HC Wainwright Forecasts Strong Price Appreciation for Iris Energy (NASDAQ:IREN) Stock

Iris Energy (NASDAQ:IREN) had its price objective raised by HC Wainwright from $13.00 to $16.00 in a research note released on Wednesday morning,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 equities analysts also recently weighed in on IREN. B. Riley reduced their target price on Iris Energy from $17.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Macquarie raised their target price on shares of Iris Energy from $12.00 to $13.50 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Roth Capital upgraded shares of Iris Energy to a “strong-buy” rating in a report on Tuesday, October 1st. Needham & Company LLC began coverage on shares of Iris Energy in a research note on Wednesday, September 4th. They set a “hold” rating on the stock. Finally, 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. 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 stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $16.33.

Iris Energy Stock Performance

Shares of NASDAQ IREN opened at $13.51 on Wednesday. Iris Energy has a 1 year low of $3.56 and a 1 year high of $15.75. The firm’s 50 day moving average price is $9.51 and its 200 day moving average price is $9.50.

Institutional Investors Weigh In On Iris Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in shares of Iris Energy by 56.3% during the 3rd quarter. Geode Capital Management LLC now owns 735,071 shares of the company’s stock valued at $6,204,000 after buying an additional 264,883 shares during the period. Sender Co & Partners Inc. purchased a new position in shares of Iris Energy in the third quarter valued at $561,000. Continuum Advisory LLC acquired a new stake in Iris Energy during the 3rd quarter valued at $430,000. Y Intercept Hong Kong Ltd increased its stake in Iris Energy by 592.2% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 206,706 shares of the company’s stock worth $1,745,000 after buying an additional 176,843 shares during the period. Finally, Main Management ETF Advisors LLC acquired a new position in Iris Energy in the 3rd quarter worth $760,000. Hedge funds and other institutional investors 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.