Shares of Iris Energy Limited (NASDAQ:IREN - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $13.32, but opened at $11.64. Iris Energy shares last traded at $10.83, with a volume of 14,622,404 shares changing hands.
Analyst Ratings Changes
Several research firms have weighed in on IREN. BTIG Research started coverage on shares of Iris Energy in a research note on Friday, December 20th. They issued a "buy" rating and a $33.00 price target for the company. B. Riley increased their target price on Iris Energy from $15.00 to $16.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Roth Mkm assumed coverage on Iris Energy in a research report on Wednesday, October 2nd. They set a "buy" rating and a $14.00 price target on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Iris Energy in a research report on Wednesday, November 27th. Finally, Roth Capital upgraded shares of Iris Energy to a "strong-buy" rating in a report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Iris Energy presently has an average rating of "Moderate Buy" and a consensus price target of $19.50.
Get Our Latest Stock Report on Iris Energy
Iris Energy Price Performance
The company's fifty day simple moving average is $11.79 and its 200 day simple moving average is $9.92.
Iris Energy (NASDAQ:IREN - Get Free Report) last released its quarterly earnings results on Tuesday, November 26th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.11). Iris Energy had a negative return on equity of 8.01% and a negative net margin of 36.10%. On average, sell-side analysts predict that Iris Energy Limited will post 0.12 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Iris Energy
A number of institutional investors have recently added to or reduced their stakes in the company. Main Management ETF Advisors LLC bought a new stake in Iris Energy in the third quarter worth $760,000. Van ECK Associates Corp boosted its stake in Iris Energy by 56.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,671 shares of the company's stock worth $13,938,000 after purchasing an additional 576,726 shares in the last quarter. Vontobel Holding Ltd. grew its position in Iris Energy by 123.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 49,322 shares of the company's stock valued at $416,000 after purchasing an additional 27,212 shares during the last quarter. Creative Planning increased its stake in Iris Energy by 71.2% during the 3rd quarter. Creative Planning now owns 457,625 shares of the company's stock valued at $3,862,000 after purchasing an additional 190,300 shares in the last quarter. Finally, Campbell Capital Management Inc. purchased a new position in Iris Energy in the third quarter worth about $608,000. Institutional investors own 41.08% of the company's stock.
About Iris Energy
(
Get Free Report)
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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