Shares of Iris Energy Limited (NASDAQ:IREN - Get Free Report) have received an average rating of "Moderate Buy" from the twelve analysts that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $19.50.
A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $15.00 price target (up from $9.50) on shares of Iris Energy in a research report on Tuesday, December 10th. Roth Mkm began coverage on Iris Energy in a report on Wednesday, October 2nd. They issued a "buy" rating and a $14.00 target price for the company. B. Riley upped their target price on Iris Energy from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. BTIG Research assumed coverage on Iris Energy in a research report on Friday, December 20th. They set a "buy" rating and a $33.00 price target on the stock. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Iris Energy in a research note on Wednesday, November 27th.
Read Our Latest Stock Analysis on Iris Energy
Iris Energy Stock Down 1.2 %
Shares of NASDAQ:IREN traded down $0.12 during trading on Wednesday, hitting $9.82. 13,478,489 shares of the company were exchanged, compared to its average volume of 13,736,254. The firm's 50 day moving average price is $11.45 and its 200-day moving average price is $10.19. Iris Energy has a 12-month low of $3.56 and a 12-month high of $15.92.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of IREN. AFG Fiduciary Services Limited Partnership acquired a new stake in shares of Iris Energy during the third quarter worth $77,000. Covestor Ltd purchased a new position in Iris Energy during the 3rd quarter worth $87,000. Sippican Capital Advisors acquired a new stake in shares of Iris Energy in the 3rd quarter worth $94,000. Bluefin Capital Management LLC purchased a new stake in shares of Iris Energy in the second quarter valued at about $113,000. Finally, Seven Eight Capital LP acquired a new position in shares of Iris Energy during the second quarter worth about $146,000. Institutional investors and hedge funds own 41.08% of the company's stock.
About Iris Energy
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Get Free ReportIris 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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