JPMorgan Chase & Co. reaffirmed their neutral rating on shares of Iris Energy (NASDAQ:IREN - Free Report) in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has a $15.00 price objective on the stock, up from their prior price objective of $9.50.
Other equities research analysts have also issued reports about the company. Roth Mkm assumed coverage on Iris Energy in a research report on Wednesday, October 2nd. They issued a "buy" rating and a $14.00 price target for the company. B. Riley dropped their target price on Iris Energy from $17.00 to $12.00 and set a "buy" rating for the company in a report on Friday, September 13th. HC Wainwright lifted their price target on Iris Energy from $13.00 to $16.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Cantor Fitzgerald boosted their price target on shares of Iris Energy from $20.00 to $23.00 and gave the company an "overweight" rating in a research report on Wednesday, November 27th. Finally, Macquarie raised their price objective on shares of Iris Energy from $13.50 to $19.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $17.56.
View Our Latest Report on IREN
Iris Energy Stock Performance
IREN traded down $1.15 during midday trading on Tuesday, hitting $13.36. 17,610,549 shares of the company traded hands, compared to its average volume of 13,788,039. The business has a 50 day simple moving average of $10.26 and a two-hundred day simple moving average of $9.93. Iris Energy has a 52-week low of $3.56 and a 52-week high of $15.92.
Institutional Trading of Iris Energy
A number of institutional investors and hedge funds have recently added to or reduced their stakes in IREN. Marshall Wace LLP lifted its position in shares of Iris Energy by 33.6% during the second quarter. Marshall Wace LLP now owns 3,811,780 shares of the company's stock worth $43,035,000 after purchasing an additional 958,494 shares in the last quarter. Van ECK Associates Corp increased its stake 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 worth $13,938,000 after buying an additional 576,726 shares during the period. D1 Capital Partners L.P. acquired a new stake in Iris Energy during the 2nd quarter worth approximately $17,319,000. Hood River Capital Management LLC purchased a new position in Iris Energy in the 2nd quarter valued at approximately $13,618,000. Finally, Bank of Montreal Can acquired a new position in shares of Iris Energy in the second quarter worth $9,969,000. Hedge funds and other institutional investors own 41.08% of the company's stock.
Iris Energy Company Profile
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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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