Iris Energy Limited (NASDAQ:IREN – Free Report) – Analysts at B. Riley cut their FY2024 earnings per share (EPS) estimates for Iris Energy in a note issued to investors on Friday, July 12th. B. Riley analyst L. Pipes now expects that the company will post earnings per share of $0.00 for the year, down from their prior forecast of $0.04. B. Riley currently has a “Buy” rating and a $17.00 target price on the stock. B. Riley also issued estimates for Iris Energy’s Q4 2024 earnings at $0.01 EPS and FY2025 earnings at $0.54 EPS.
Iris Energy (NASDAQ:IREN – Get Free Report) last released its quarterly earnings results on Wednesday, May 15th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.04). The business had revenue of $54.35 million during the quarter, compared to analyst estimates of $58.41 million.
Get Our Latest Analysis on IREN
Iris Energy Trading Up 9.9 %
NASDAQ IREN opened at $12.31 on Monday. The stock has a 50 day moving average price of $10.04 and a 200-day moving average price of $7.04. Iris Energy has a one year low of $2.79 and a one year high of $15.75.
Institutional Investors Weigh In On Iris Energy
Hedge funds and other institutional investors have recently modified their holdings of the business. VitalStone Financial LLC increased its stake in Iris Energy by 373.9% in the first quarter. VitalStone Financial LLC now owns 13,980 shares of the company’s stock worth $71,000 after purchasing an additional 11,030 shares during the period. CCG Wealth Management LLC purchased a new position in Iris Energy in the 1st quarter worth about $72,000. Counterpoint Mutual Funds LLC bought a new stake in Iris Energy during the 4th quarter valued at about $84,000. PEAK6 Investments LLC purchased a new stake in Iris Energy in the 1st quarter valued at about $133,000. Finally, Olympiad Research LP bought a new position in Iris Energy in the 4th quarter worth about $173,000. 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.
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