Iris Energy Limited (NASDAQ:IREN - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $10.22, but opened at $9.32. Iris Energy shares last traded at $10.02, with a volume of 5,038,120 shares.
Analysts Set New Price Targets
A number of equities analysts recently commented on the company. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $15.00 price objective (up previously from $9.50) on shares of Iris Energy in a research report on Tuesday, December 10th. Needham & Company LLC reiterated a "hold" rating on shares of Iris Energy in a research report on Wednesday, November 27th. B. Riley upped their price target on Iris Energy from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. HC Wainwright boosted their price target on shares of Iris Energy from $13.00 to $16.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. Finally, Macquarie lifted their target price on shares of Iris Energy from $13.50 to $19.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Iris Energy currently has an average rating of "Moderate Buy" and a consensus price target of $19.50.
Get Our Latest Research Report on Iris Energy
Iris Energy Stock Up 7.6 %
The stock has a fifty day moving average of $11.77 and a 200-day moving average of $9.88.
Iris Energy (NASDAQ:IREN - Get Free Report) last announced its quarterly earnings data on Tuesday, November 26th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.11). Iris Energy had a negative net margin of 36.10% and a negative return on equity of 8.01%. As a group, research analysts anticipate that Iris Energy Limited will post 0.11 EPS for the current year.
Institutional Investors Weigh In On Iris Energy
A number of large investors have recently modified their holdings of the company. Stonebridge Financial Group LLC acquired a new position in shares of Iris Energy during the fourth quarter worth $29,000. HM Payson & Co. acquired a new position in shares of Iris Energy during the 4th quarter worth about $30,000. R Squared Ltd purchased a new position in shares of Iris Energy in the 4th quarter valued at about $37,000. AFG Fiduciary Services Limited Partnership acquired a new stake in shares of Iris Energy during the 3rd quarter worth about $77,000. Finally, Covestor Ltd purchased a new stake in Iris Energy during the third quarter worth approximately $87,000. 41.08% of the stock is owned by hedge funds and other institutional investors.
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.
Further Reading
Before you consider Iris Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Iris Energy wasn't on the list.
While Iris Energy currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
