Iris Energy Limited (NASDAQ:IREN) Short Interest Update

Iris Energy Limited (NASDAQ:IREN - Get Free Report) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 2,060,000 shares, an increase of 102.0% from the March 15th total of 1,020,000 shares. Approximately 2.3% of the company's shares are short sold. Based on an average daily volume of 9,670,000 shares, the short-interest ratio is currently 0.2 days.

Analysts Set New Price Targets

IREN has been the topic of several recent analyst reports. B. Riley reduced their price objective on shares of Iris Energy from $10.00 to $9.50 and set a "buy" rating on the stock in a research note on Friday, March 15th. HC Wainwright restated a "buy" rating and set a $10.00 price objective on shares of Iris Energy in a report on Tuesday, April 2nd. Cantor Fitzgerald reiterated an "overweight" rating and issued a $10.00 target price on shares of Iris Energy in a research note on Thursday, March 28th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $9.00 price target on shares of Iris Energy in a research note on Thursday, March 28th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $12.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Two Sigma Securities LLC bought a new position in Iris Energy during the 1st quarter valued at $32,000. Toroso Investments LLC acquired a new stake in shares of Iris Energy in the 3rd quarter valued at about $46,000. Tucker Asset Management LLC bought a new position in shares of Iris Energy during the third quarter worth about $47,000. UBS Group AG grew its stake in Iris Energy by 25.7% in the first quarter. UBS Group AG now owns 15,957 shares of the company's stock worth $49,000 after purchasing an additional 3,259 shares in the last quarter. Finally, Penserra Capital Management LLC increased its holdings in Iris Energy by 42.7% in the fourth quarter. Penserra Capital Management LLC now owns 46,371 shares of the company's stock valued at $57,000 after buying an additional 13,885 shares during the last quarter. Hedge funds and other institutional investors own 41.08% of the company's stock.

Iris Energy Stock Performance

Iris Energy stock traded up $0.07 during midday trading on Thursday, hitting $4.97. 5,590,403 shares of the company were exchanged, compared to its average volume of 9,428,233. Iris Energy has a fifty-two week low of $2.79 and a fifty-two week high of $9.69. The company's fifty day moving average price is $5.63 and its 200-day moving average price is $4.91.

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 firm had revenue of $42.57 million for the quarter, compared to analyst estimates of $37.58 million. As a group, sell-side analysts expect that Iris Energy will post 0.08 EPS for the current fiscal year.

About Iris Energy

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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