Iris Energy Limited (NASDAQ:IREN - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $10.49, but opened at $10.02. Iris Energy shares last traded at $10.13, with a volume of 5,712,067 shares.
Analyst Upgrades and Downgrades
IREN has been the topic of several recent analyst reports. JPMorgan Chase & Co. upgraded Iris Energy from a "neutral" rating to an "overweight" rating and reduced their price target for the stock from $15.00 to $12.00 in a report on Thursday, March 13th. Wall Street Zen downgraded Iris Energy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. HC Wainwright reduced their price target on Iris Energy from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Thursday, May 15th. B. Riley increased their price target on Iris Energy from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $23.00 price target on shares of Iris Energy in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $20.30.
Get Our Latest Research Report on Iris Energy
Iris Energy Stock Down 3.3%
The firm has a 50 day moving average of $7.54 and a 200-day moving average of $9.35.
Iris Energy (NASDAQ:IREN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.06). The firm had revenue of $148.10 million during the quarter, compared to the consensus estimate of $153.38 million. Iris Energy had a negative return on equity of 3.98% and a negative net margin of 17.94%. On average, analysts expect that Iris Energy Limited will post 0.43 EPS for the current year.
Institutional Trading of Iris Energy
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Stonebridge Financial Group LLC bought a new stake in Iris Energy during the 4th quarter valued at $29,000. HM Payson & Co. bought a new stake in Iris Energy during the 4th quarter valued at $30,000. Main Management LLC bought a new stake in Iris Energy during the 4th quarter valued at $49,000. Crewe Advisors LLC bought a new stake in Iris Energy during the 1st quarter valued at $39,000. Finally, Quarry LP bought a new stake in Iris Energy during the 1st quarter valued at $40,000. 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.
Further Reading
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