Iris Energy Limited (NASDAQ:IREN - Get Free Report) saw a significant growth in short interest in April. As of April 15th, there was short interest totalling 4,240,000 shares, a growth of 105.8% from the March 31st total of 2,060,000 shares. Currently, 3.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 10,110,000 shares, the short-interest ratio is currently 0.4 days.
Analyst Upgrades and Downgrades
IREN has been the subject of several research reports. HC Wainwright reissued a "buy" rating and set a $10.00 price objective on shares of Iris Energy in a research note on Tuesday, April 2nd. B. Riley decreased their price target on Iris Energy from $10.00 to $9.50 and set a "buy" rating for the company in a research report on Friday, March 15th. Cantor Fitzgerald reissued an "overweight" rating and issued a $10.00 price target on shares of Iris Energy in a research note on Thursday, March 28th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $9.00 price objective on shares of Iris Energy in a research note on Thursday, March 28th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $12.00.
Get Our Latest Report on IREN
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. Tucker Asset Management LLC purchased a new position in shares of Iris Energy during the 3rd quarter valued at $47,000. CCG Wealth Management LLC purchased a new position in Iris Energy in the first quarter valued at about $72,000. Counterpoint Mutual Funds LLC acquired a new position in Iris Energy in the 4th quarter worth about $84,000. Vontobel Holding Ltd. purchased a new stake in shares of Iris Energy during the 3rd quarter worth about $104,000. Finally, Olympiad Research LP acquired a new stake in shares of Iris Energy during the 4th quarter valued at about $173,000. Institutional investors and hedge funds own 41.08% of the company's stock.
Iris Energy Stock Down 1.7 %
NASDAQ:IREN traded down $0.09 during trading hours on Friday, hitting $5.08. 4,530,705 shares of the company's stock traded hands, compared to its average volume of 9,924,260. The stock's fifty day moving average price is $5.45 and its two-hundred day moving average price is $5.03. Iris Energy has a twelve month low of $2.79 and a twelve month high of $9.69.
Iris Energy (NASDAQ:IREN - Get Free Report) last released its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter. The business had revenue of $42.57 million during the quarter, compared to the consensus estimate of $37.58 million. On average, sell-side analysts forecast that Iris Energy will post 0.08 earnings per share for the current fiscal year.
About Iris Energy
(
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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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