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We recently published a list of 10 Firms Close Shortened Trading Week Higher. In this article, we are going to take a look at where IREN Limited (NASDAQ:IREN) stands against other firms close shortened trading week higher.
Wall Street’s main indices ended the shortened trading week in the red territory on Friday after labor market data came in much hotter than expected, fueling concerns that the Federal Reserve will not cut rates again.
Both the Dow Jones and the Nasdaq Composite dived by 1.63 percent, while the S&P 500 declined by 1.54 percent.
Meanwhile, 10 companies in the mixed sector posted notable gains amid fresh catalysts that perked up buying appetite. In this article, let’s explore the reasons behind their rally.
In Friday’s top advancers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
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IREN Limited (NASDAQ:IREN)
Shares of IREN Limited (NASDAQ:IREN) finished the shortened trading week stronger, rallying by 4.66 percent to close at $11 apiece after an investment banking firm upgraded its third-quarter earnings per share (EPS) estimates.
Roth Capital, in a report published on Tuesday, upgraded its EPS forecast for IREN Limited (NASDAQ:IREN) to $0.29 per share for the quarter from the $0.28 earlier, while giving the company a “strong-buy” rating.
Roth Capital also issued estimates for IREN’s earnings for the fourth quarter of 2025 at $0.30 per share, while giving a $0.43 EPS forecast for the first quarter of 2026; $0.35 for the second quarter of 2026; $0.33 EPS for the third quarter, and $0.22 for the fourth quarter.
Finally, full-year 2026 earnings are expected to hit $1.32 EPS while full-year 2027 is pegged at $0.79 EPS.
Overall, IREN ranks 10th on our list of firms close shortened trading week higher. While we acknowledge the potential of IREN as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than IREN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.