Iris Energy Limited (NASDAQ:IREN - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $9.75, but opened at $10.28. Iris Energy shares last traded at $9.94, with a volume of 3,770,148 shares changing hands.
Analysts Set New Price Targets
Several equities analysts recently weighed in on IREN shares. HC Wainwright dropped their price target on shares of Iris Energy from $22.00 to $21.00 and set a "buy" rating on the stock in a research report on Thursday, May 15th. JPMorgan Chase & Co. upgraded Iris Energy from a "neutral" rating to an "overweight" rating and dropped their target price for the company from $15.00 to $12.00 in a report on Thursday, March 13th. Wall Street Zen lowered Iris Energy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Macquarie raised 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. Finally, B. Riley raised their price target on shares of Iris Energy from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $20.30.
Check Out Our Latest Report on Iris Energy
Iris Energy Trading Up 4.8%
The firm has a 50-day moving average of $7.11 and a 200-day moving average of $9.36.
Iris Energy (NASDAQ:IREN - Get Free Report) last announced its quarterly earnings results 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, analysts predict that Iris Energy Limited will post 0.43 earnings per share for the current year.
Hedge Funds Weigh In On Iris Energy
Institutional investors have recently made changes to their positions in the business. Stonebridge Financial Group LLC bought a new stake in shares of Iris Energy in the fourth quarter worth about $29,000. HM Payson & Co. bought a new position in Iris Energy in the 4th quarter worth about $30,000. Crewe Advisors LLC bought a new position in shares of Iris Energy during the 1st quarter worth $39,000. Quarry LP bought a new position in Iris Energy during the 1st quarter worth about $40,000. Finally, Main Management LLC purchased a new position in Iris Energy during the fourth quarter valued at approximately $49,000. Institutional investors own 41.08% of the company's stock.
Iris Energy Company Profile
(
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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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