Iris Energy Limited (NASDAQ:IREN - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $11.81, but opened at $11.48. Iris Energy shares last traded at $11.39, with a volume of 1,010,062 shares.
Analyst Ratings Changes
Several research firms recently weighed in on IREN. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $15.00 price objective (up from $9.50) on shares of Iris Energy in a research note on Tuesday, December 10th. HC Wainwright raised their price target on Iris Energy from $13.00 to $16.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. Cantor Fitzgerald raised their target price on shares of Iris Energy from $20.00 to $23.00 and gave the company an "overweight" rating in a report on Wednesday, November 27th. BTIG Research began coverage on Iris Energy in a research report on Friday, December 20th. They set a "buy" rating and a $33.00 price objective for the company. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Iris Energy in a report on Wednesday, November 27th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. 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 Performance
The business's 50 day simple moving average is $11.39 and its 200-day simple moving average is $10.28.
Hedge Funds Weigh In On Iris Energy
A number of institutional investors and hedge funds have recently added to or reduced their stakes in IREN. D1 Capital Partners L.P. acquired a new stake in Iris Energy in the 2nd quarter valued at about $17,319,000. Hood River Capital Management LLC acquired a new stake in Iris Energy during the second quarter valued at approximately $13,618,000. Marshall Wace LLP boosted its holdings in 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 buying an additional 958,494 shares in the last quarter. Bank of Montreal Can acquired a new position in Iris Energy in the second quarter worth approximately $9,969,000. Finally, Van ECK Associates Corp increased its holdings in shares of Iris Energy by 56.1% in the third quarter. Van ECK Associates Corp now owns 1,605,671 shares of the company's stock valued at $13,938,000 after buying an additional 576,726 shares in the last quarter. 41.08% of the stock is owned by institutional investors.
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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