Shares of Iris Energy Limited (NASDAQ:IREN - Get Free Report) were up 8.9% during mid-day trading on Friday . The company traded as high as $9.68 and last traded at $9.75. Approximately 5,083,088 shares traded hands during trading, a decline of 68% from the average daily volume of 16,134,192 shares. The stock had previously closed at $8.95.
Wall Street Analyst Weigh In
IREN has been the topic of several research reports. Cantor Fitzgerald reissued 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. raised Iris Energy from a "neutral" rating to an "overweight" rating and cut their target price for the company from $15.00 to $12.00 in a research report on Thursday, March 13th. Wall Street Zen downgraded Iris Energy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. HC Wainwright cut their target price on Iris Energy from $22.00 to $21.00 and set a "buy" rating on the stock in a research report on Thursday, May 15th. Finally, B. Riley upped their target price on Iris Energy from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Iris Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.30.
View Our Latest Research Report on Iris Energy
Iris Energy Stock Performance
The firm has a 50-day simple moving average of $7.18 and a two-hundred day simple moving average of $9.35.
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 for the quarter, missing the consensus estimate of $0.17 by ($0.06). The company had revenue of $148.10 million for the quarter, compared to analyst estimates of $153.38 million. Iris Energy had a negative return on equity of 3.98% and a negative net margin of 17.94%. Equities analysts anticipate that Iris Energy Limited will post 0.43 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Iris Energy
Several hedge funds have recently modified their holdings of the company. Belpointe Asset Management LLC boosted its stake in shares of Iris Energy by 21.8% during the 1st quarter. Belpointe Asset Management LLC now owns 24,974 shares of the company's stock worth $152,000 after acquiring an additional 4,465 shares in the last quarter. Clearline Capital LP acquired a new stake in Iris Energy in the 1st quarter valued at about $178,000. PharVision Advisers LLC acquired a new stake in Iris Energy in the 1st quarter valued at about $126,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Iris Energy by 14.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 987,466 shares of the company's stock valued at $6,014,000 after acquiring an additional 122,668 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Iris Energy during the 1st quarter worth approximately $40,000. 41.08% of the stock is owned by hedge funds and other institutional investors.
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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