HC Wainwright reissued their buy rating on shares of Iris Energy (NASDAQ:IREN - Free Report) in a research report report published on Tuesday morning, Benzinga reports. They currently have a $10.00 target price on the stock.
Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. increased their price target on Iris Energy from $9.00 to $9.50 and gave the stock an overweight rating in a report on Friday, December 8th. 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. B. Riley lowered their target price on shares of Iris Energy from $10.00 to $9.50 and set a buy rating for the company in a research note on Friday, March 15th. Finally, Canaccord Genuity Group restated a buy rating and issued a $9.00 price target on shares of Iris Energy in a report on Thursday, March 28th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of Buy and a consensus price target of $12.00.
View Our Latest Report on Iris Energy
Iris Energy Stock Down 9.0 %
IREN traded down $0.58 during trading on Tuesday, reaching $5.89. The company had a trading volume of 16,950,457 shares, compared to its average volume of 9,212,892. Iris Energy has a 52 week low of $2.70 and a 52 week high of $9.69. The business has a 50 day simple moving average of $5.46 and a 200-day simple moving average of $4.86.
Iris Energy (NASDAQ:IREN - Get Free Report) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) EPS for the quarter. The company had revenue of $42.57 million for the quarter, compared to analysts' expectations of $37.58 million. On average, sell-side analysts expect that Iris Energy will post -0.01 EPS for the current year.
Institutional Trading of Iris Energy
Institutional investors and hedge funds have recently made changes to their positions in the company. Two Sigma Securities LLC bought a new position in Iris Energy in the first quarter worth approximately $32,000. Toroso Investments LLC bought a new position in shares of Iris Energy in the 3rd quarter worth $46,000. Tucker Asset Management LLC purchased a new stake in shares of Iris Energy during the 3rd quarter worth $47,000. UBS Group AG boosted its position in Iris Energy by 25.7% during the first quarter. UBS Group AG now owns 15,957 shares of the company's stock valued at $49,000 after purchasing an additional 3,259 shares in the last quarter. Finally, Penserra Capital Management LLC grew its stake 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 purchasing an additional 13,885 shares during the last quarter. 41.08% of the stock is currently owned by institutional investors.
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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