Iris Energy Limited (NASDAQ:IREN - Get Free Report) has been given an average rating of "Buy" by the twelve analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $20.40.
Several brokerages recently commented on IREN. JPMorgan Chase & Co. raised shares of Iris Energy from a "neutral" rating to an "overweight" rating and reduced their price objective for the company from $15.00 to $12.00 in a research note on Thursday, March 13th. Needham & Company LLC reiterated a "hold" rating on shares of Iris Energy in a research report on Thursday, February 13th. Cantor Fitzgerald restated an "overweight" rating and set a $23.00 target price on shares of Iris Energy in a research report on Thursday, February 13th. HC Wainwright raised their price target on Iris Energy from $16.00 to $22.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, Canaccord Genuity Group boosted their price objective on Iris Energy from $17.00 to $23.00 and gave the stock a "buy" rating in a report on Thursday, February 13th.
Read Our Latest Stock Analysis on Iris Energy
Iris Energy Stock Up 2.3 %
Iris Energy stock traded up $0.16 during mid-day trading on Tuesday, reaching $7.05. The company's stock had a trading volume of 18,681,945 shares, compared to its average volume of 15,921,325. The firm's fifty day moving average price is $6.44 and its two-hundred day moving average price is $9.58. Iris Energy has a 12-month low of $4.65 and a 12-month high of $15.92.
Iris Energy (NASDAQ:IREN - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.13. Iris Energy had a negative return on equity of 3.98% and a negative net margin of 17.94%. On average, analysts predict that Iris Energy will post 0.43 earnings per share for the current year.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the stock. Stonebridge Financial Group LLC purchased a new stake in shares of Iris Energy during the fourth quarter valued at approximately $29,000. HM Payson & Co. purchased a new position in shares of Iris Energy in the fourth quarter valued at about $30,000. R Squared Ltd bought a new position in shares of Iris Energy during the fourth quarter valued at about $37,000. Main Management LLC purchased a new position in Iris Energy during the 4th quarter valued at about $49,000. Finally, Crewe Advisors LLC bought a new position in shares of Iris Energy during the first quarter valued at approximately $39,000. Hedge funds and other institutional investors own 41.08% of the company's stock.
About Iris Energy
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Get Free ReportIris 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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