Iris Energy Limited (NASDAQ:IREN - Get Free Report)'s stock price gapped up before the market opened on Thursday . The stock had previously closed at $8.89, but opened at $9.35. Iris Energy shares last traded at $9.41, with a volume of 5,655,355 shares trading hands.
Wall Street Analysts Forecast Growth
IREN has been the subject of a number of analyst reports. B. Riley increased their price objective on Iris Energy from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Macquarie increased their price objective on Iris Energy from $15.50 to $20.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. HC Wainwright dropped their price objective on Iris Energy from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Thursday, May 15th. Needham & Company LLC reissued a "hold" rating on shares of Iris Energy in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. upgraded Iris Energy from a "neutral" rating to an "overweight" rating and decreased their target price for the company from $15.00 to $12.00 in a report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $20.30.
Check Out Our Latest Research Report on IREN
Iris Energy Stock Performance
The business has a fifty day moving average of $6.68 and a 200 day moving average of $9.50.
Iris Energy (NASDAQ:IREN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, research analysts expect that Iris Energy Limited will post 0.43 EPS for the current year.
Hedge Funds Weigh In On Iris Energy
A number of institutional investors have recently added to or reduced their stakes in IREN. Stonebridge Financial Group LLC bought a new position in Iris Energy in the fourth quarter worth $29,000. HM Payson & Co. bought a new position in Iris Energy in the fourth quarter worth $30,000. R Squared Ltd bought a new position in Iris Energy in the fourth quarter worth $37,000. Crewe Advisors LLC bought a new position in Iris Energy in the first quarter worth $39,000. Finally, Quarry LP purchased a new stake in shares of Iris Energy in the first quarter worth $40,000. 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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