Investment analysts at BTIG Research initiated coverage on shares of Iris Energy (NASDAQ:IREN - Get Free Report) in a note issued to investors on Friday, Marketbeat reports. The firm set a "buy" rating and a $33.00 price target on the stock. BTIG Research's price objective would suggest a potential upside of 179.42% from the company's previous close.
Several other analysts have also recently issued reports on IREN. Roth Mkm assumed coverage on Iris Energy in a report on Wednesday, October 2nd. They set a "buy" rating and a $14.00 price objective on the stock. Cantor Fitzgerald upped their price target on shares of Iris Energy from $20.00 to $23.00 and gave the company an "overweight" rating in a research note on Wednesday, November 27th. B. Riley lifted their price objective on shares of Iris Energy from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Thursday. JPMorgan Chase & Co. restated a "neutral" rating and set a $15.00 target price (up from $9.50) on shares of Iris Energy in a research report on Tuesday, December 10th. Finally, Roth Capital raised Iris Energy to a "strong-buy" rating in a research note on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $19.50.
Get Our Latest Stock Report on Iris Energy
Iris Energy Price Performance
Shares of NASDAQ:IREN traded up $0.40 during midday trading on Friday, reaching $11.81. 14,204,444 shares of the company were exchanged, compared to its average volume of 13,826,229. The business's fifty day moving average is $11.09 and its two-hundred day moving average is $10.20. Iris Energy has a one year low of $3.56 and a one year high of $15.92.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of Iris Energy by 56.3% in the 3rd quarter. Geode Capital Management LLC now owns 735,071 shares of the company's stock worth $6,204,000 after buying an additional 264,883 shares during the period. Sender Co & Partners Inc. purchased a new stake in Iris Energy during the third quarter valued at approximately $561,000. Continuum Advisory LLC acquired a new stake in Iris Energy in the third quarter valued at approximately $430,000. Y Intercept Hong Kong Ltd grew its holdings in Iris Energy by 592.2% in the third quarter. Y Intercept Hong Kong Ltd now owns 206,706 shares of the company's stock worth $1,745,000 after purchasing an additional 176,843 shares during the last quarter. Finally, Main Management ETF Advisors LLC acquired a new position in shares of Iris Energy during the third quarter worth $760,000. Institutional investors own 41.08% of the company's stock.
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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