Shares of IREN Limited (NASDAQ:IREN - Get Free Report) gapped up prior to trading on Friday after Canaccord Genuity Group raised their price target on the stock from $23.00 to $37.00. The stock had previously closed at $23.04, but opened at $27.50. Canaccord Genuity Group currently has a buy rating on the stock. IREN shares last traded at $27.57, with a volume of 21,295,159 shares traded.
IREN has been the topic of a number of other research reports. B. Riley reiterated a "buy" rating and issued a $22.00 target price (up previously from $15.00) on shares of IREN in a research note on Thursday, July 10th. HC Wainwright decreased their target price on IREN from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Thursday, May 15th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $16.00 target price (up from $12.00) on shares of IREN in a research report on Monday, July 28th. Macquarie lifted their target price on IREN from $15.50 to $20.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Finally, Wall Street Zen raised IREN from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, IREN has an average rating of "Moderate Buy" and a consensus price target of $22.44.
Check Out Our Latest Research Report on IREN
Hedge Funds Weigh In On IREN
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IREN. JPMorgan Chase & Co. purchased a new position in IREN in the 4th quarter worth $587,000. First Trust Advisors LP grew its position in IREN by 9.6% during the 4th quarter. First Trust Advisors LP now owns 343,833 shares of the company's stock worth $3,376,000 after purchasing an additional 30,160 shares during the period. Tower Research Capital LLC TRC grew its position in IREN by 1,059.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,368 shares of the company's stock worth $82,000 after purchasing an additional 7,646 shares during the period. Appian Way Asset Management LP acquired a new stake in IREN during the 4th quarter worth about $859,000. Finally, AQR Arbitrage LLC acquired a new stake in IREN during the 4th quarter worth about $987,000. Hedge funds and other institutional investors own 41.08% of the company's stock.
IREN Stock Performance
The firm has a 50-day simple moving average of $17.33 and a two-hundred day simple moving average of $11.21.
About IREN
(
Get Free Report)
IREN Limited, formerly known as Iris Energy Limited, owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.
Further Reading
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