Iris Energy Limited (NASDAQ:IREN - Get Free Report) shares traded down 10.9% during mid-day trading on Friday . The company traded as low as $11.18 and last traded at $11.02. 12,223,263 shares traded hands during trading, a decline of 24% from the average session volume of 16,119,420 shares. The stock had previously closed at $12.36.
Wall Street Analyst Weigh In
Several research analysts have issued reports on IREN shares. B. Riley raised their price objective on shares of Iris Energy from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Canaccord Genuity Group raised their price target on Iris Energy from $17.00 to $23.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Needham & Company LLC reaffirmed a "hold" rating on shares of Iris Energy in a research note on Thursday, February 13th. BTIG Research initiated coverage on Iris Energy in a research note on Friday, December 20th. They issued a "buy" rating and a $33.00 target price on the stock. Finally, HC Wainwright increased their price target on Iris Energy from $16.00 to $22.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Two research 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's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $20.70.
View Our Latest Research Report on Iris Energy
Iris Energy Price Performance
The business has a fifty day simple moving average of $11.36 and a 200 day simple moving average of $10.17.
Iris Energy (NASDAQ:IREN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.13. Iris Energy had a negative net margin of 17.94% and a negative return on equity of 3.98%. Equities research analysts expect that Iris Energy Limited will post 0.43 EPS for the current year.
Institutional Investors Weigh In On Iris Energy
A number of institutional investors and hedge funds have recently modified their holdings of IREN. Arrowstreet Capital Limited Partnership raised its holdings in Iris Energy by 1,307.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,684,836 shares of the company's stock worth $55,825,000 after purchasing an additional 5,280,999 shares during the last quarter. Discovery Capital Management LLC CT purchased a new position in shares of Iris Energy in the fourth quarter valued at $11,544,000. Two Sigma Investments LP raised its stake in shares of Iris Energy by 193.2% during the 4th quarter. Two Sigma Investments LP now owns 1,602,642 shares of the company's stock worth $15,738,000 after buying an additional 1,056,005 shares during the last quarter. Regal Partners Ltd boosted its position in shares of Iris Energy by 93.9% in the 4th quarter. Regal Partners Ltd now owns 1,697,554 shares of the company's stock worth $16,670,000 after buying an additional 822,251 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new stake in Iris Energy in the 4th quarter valued at about $7,162,000. Institutional investors and hedge funds own 41.08% of the company's stock.
Iris Energy Company Profile
(
Get Free Report)
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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