Iris Energy Limited (NASDAQ:IREN - Free Report) - Analysts at HC Wainwright boosted their Q3 2024 earnings per share (EPS) estimates for shares of Iris Energy in a research note issued to investors on Tuesday, April 2nd. HC Wainwright analyst M. Colonnese now forecasts that the company will post earnings per share of $0.11 for the quarter, up from their previous forecast of $0.08. HC Wainwright currently has a "Buy" rating and a $10.00 price target on the stock. The consensus estimate for Iris Energy's current full-year earnings is ($0.01) per share.
Iris Energy (NASDAQ:IREN - Get Free Report) last posted its earnings results on Thursday, February 15th. The company reported ($0.07) EPS for the quarter. The company had revenue of $42.57 million during the quarter, compared to analyst estimates of $37.58 million.
IREN has been the subject of a number of other reports. Canaccord Genuity Group reaffirmed a "buy" rating and set a $9.00 price target on shares of Iris Energy in a report on Thursday, March 28th. JPMorgan Chase & Co. raised their price target on Iris Energy from $9.00 to $9.50 and gave the company an "overweight" rating in a report on Friday, December 8th. B. Riley dropped their price target on Iris Energy from $10.00 to $9.50 and set a "buy" rating for the company in a report on Friday, March 15th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $10.00 price target on shares of Iris Energy in a report on Thursday, March 28th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $12.00.
View Our Latest Research Report on IREN
Iris Energy Price Performance
Shares of Iris Energy stock traded down $0.33 during midday trading on Wednesday, hitting $5.56. 9,202,243 shares of the company were exchanged, compared to its average volume of 9,213,836. Iris Energy has a 52 week low of $2.70 and a 52 week high of $9.69. The firm has a 50 day simple moving average of $5.49 and a 200-day simple moving average of $4.87.
Institutional Investors Weigh In On Iris Energy
Hedge funds and other institutional investors have recently made changes to their positions in the company. Vontobel Holding Ltd. acquired a new stake in shares of Iris Energy in the 3rd quarter valued at $104,000. Van ECK Associates Corp grew its stake in shares of Iris Energy by 19.7% during the third quarter. Van ECK Associates Corp now owns 1,117,769 shares of the company's stock worth $4,147,000 after purchasing an additional 184,039 shares during the period. Tucker Asset Management LLC acquired a new stake in shares of Iris Energy during the third quarter worth $47,000. Quarry LP grew its stake in shares of Iris Energy by 56.4% during the second quarter. Quarry LP now owns 337,260 shares of the company's stock worth $1,572,000 after purchasing an additional 121,660 shares during the period. Finally, Exchange Traded Concepts LLC grew its stake in shares of Iris Energy by 47.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 613,818 shares of the company's stock worth $4,389,000 after purchasing an additional 196,635 shares during the period. 41.08% of the stock is owned by institutional investors and hedge funds.
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.
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