Iris Energy Limited (NASDAQ:IREN - Get Free Report)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $6.53, but opened at $6.30. Iris Energy shares last traded at $6.24, with a volume of 2,141,551 shares.
Analyst Ratings Changes
A number of research firms have issued reports on IREN. Cantor Fitzgerald reiterated an "overweight" rating and issued a $23.00 target price on shares of Iris Energy in a research report on Thursday, February 13th. JPMorgan Chase & Co. upgraded shares of Iris Energy from a "neutral" rating to an "overweight" rating and decreased their price target for the company from $15.00 to $12.00 in a research note on Thursday, March 13th. Needham & Company LLC restated a "hold" rating on shares of Iris Energy in a research note on Thursday, February 13th. Canaccord Genuity Group boosted their price target on shares of Iris Energy from $17.00 to $23.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Finally, HC Wainwright boosted their price target on shares of Iris Energy from $16.00 to $22.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Iris Energy presently has an average rating of "Buy" and an average target price of $20.40.
Get Our Latest Research Report on IREN
Iris Energy Stock Up 5.8 %
The company's 50 day moving average price is $6.46 and its 200 day moving average price is $9.61.
Iris Energy (NASDAQ:IREN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. As a group, sell-side analysts expect that Iris Energy Limited will post 0.43 EPS for the current year.
Institutional Investors Weigh In On Iris Energy
A number of hedge funds have recently made changes to their positions in IREN. Stonebridge Financial Group LLC acquired a new position in Iris Energy during the fourth quarter valued at $29,000. HM Payson & Co. acquired a new position in Iris Energy during the fourth quarter worth $30,000. R Squared Ltd bought a new stake in shares of Iris Energy during the fourth quarter valued at approximately $37,000. Main Management LLC bought a new position in Iris Energy in the fourth quarter valued at approximately $49,000. Finally, Crewe Advisors LLC bought a new stake in shares of Iris Energy during the first quarter worth $39,000. Institutional investors own 41.08% of the company's stock.
Iris Energy Company Profile
(
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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