B. Riley Issues Positive Forecast for Iris Energy (NASDAQ:IREN) Stock Price

Iris Energy (NASDAQ:IREN - Free Report) had its price target boosted by B. Riley from $15.00 to $16.00 in a research report report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued reports about the company. Compass Point reduced their price objective on Iris Energy from $18.50 to $16.00 and set a "buy" rating on the stock in a research note on Friday, August 30th. Needham & Company LLC restated a "hold" rating on shares of Iris Energy in a research report on Wednesday, November 27th. Cantor Fitzgerald boosted their price objective on Iris Energy from $20.00 to $23.00 and gave the company an "overweight" rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $15.00 price objective (up previously from $9.50) on shares of Iris Energy in a research note on Tuesday, December 10th. Finally, Roth Mkm initiated coverage on shares of Iris Energy in a research note on Wednesday, October 2nd. They issued a "buy" rating and a $14.00 target price on the stock. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Iris Energy currently has a consensus rating of "Moderate Buy" and an average target price of $18.00.

Iris Energy Trading Down 5.9 %

Shares of IREN traded down $0.72 during mid-day trading on Thursday, reaching $11.41. The company's stock had a trading volume of 15,012,885 shares, compared to its average volume of 13,824,324. Iris Energy has a 52 week low of $3.56 and a 52 week high of $15.92. The company's fifty day moving average price is $10.92 and its two-hundred day moving average price is $10.18.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Central Asset Investments & Management Holdings HK Ltd bought a new stake in Iris Energy during the second quarter worth about $779,000. Main Management ETF Advisors LLC purchased a new stake in shares of Iris Energy in the 3rd quarter worth approximately $760,000. Van ECK Associates Corp increased its position in Iris Energy by 56.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,605,671 shares of the company's stock valued at $13,938,000 after buying an additional 576,726 shares in the last quarter. Vontobel Holding Ltd. increased its position in Iris Energy by 123.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 49,322 shares of the company's stock valued at $416,000 after buying an additional 27,212 shares in the last quarter. Finally, Creative Planning raised its stake in Iris Energy by 71.2% during the third quarter. Creative Planning now owns 457,625 shares of the company's stock valued at $3,862,000 after buying an additional 190,300 shares during the last quarter. Institutional investors own 41.08% of the company's stock.

Iris Energy Company Profile

Iris Energy Limited owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.