Iris Energy Limited (NASDAQ:IREN - Get Free Report) has been given a consensus rating of "Buy" by the eleven analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $15.44.
IREN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on Iris Energy from $11.00 to $9.50 and set an "overweight" rating on the stock in a research report on Friday, August 23rd. Canaccord Genuity Group reiterated a "buy" rating and set a $15.00 price target on shares of Iris Energy in a report on Thursday, August 29th. Roth Capital upgraded Iris Energy to a "strong-buy" rating in a research note on Tuesday, October 1st. Compass Point cut their price target on Iris Energy from $18.50 to $16.00 and set a "buy" rating for the company in a research note on Friday, August 30th. Finally, Macquarie increased their price target on Iris Energy from $12.00 to $13.50 and gave the stock an "outperform" rating in a research note on Friday, August 30th.
View Our Latest Research Report on Iris Energy
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in Iris Energy by 8.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 362,026 shares of the company's stock worth $3,055,000 after acquiring an additional 29,311 shares during the period. Drive Wealth Management LLC acquired a new position in shares of Iris Energy during the 3rd quarter worth approximately $316,000. Chesapeake Capital Corp IL boosted its holdings in shares of Iris Energy by 27.9% during the 3rd quarter. Chesapeake Capital Corp IL now owns 17,695 shares of the company's stock worth $157,000 after purchasing an additional 3,861 shares during the last quarter. Evolution Wealth Advisors LLC acquired a new position in Iris Energy in the third quarter valued at approximately $372,000. Finally, Regal Partners Ltd lifted its holdings in Iris Energy by 2.7% in the third quarter. Regal Partners Ltd now owns 875,303 shares of the company's stock valued at $7,388,000 after acquiring an additional 23,132 shares during the last quarter. Institutional investors own 41.08% of the company's stock.
Iris Energy Stock Performance
Iris Energy stock traded down $0.78 during trading hours on Tuesday, reaching $11.97. 12,618,367 shares of the company's stock traded hands, compared to its average volume of 13,152,487. The firm's 50 day moving average is $8.61 and its 200-day moving average is $9.02. Iris Energy has a fifty-two week low of $2.79 and a fifty-two week high of $15.75.
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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