Iris Energy Limited (NASDAQ:IREN - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $6.76, but opened at $6.03. Iris Energy shares last traded at $6.21, with a volume of 2,013,479 shares trading hands.
Analyst Upgrades and Downgrades
IREN has been the topic of several research reports. HC Wainwright raised their price target on shares of Iris Energy from $16.00 to $22.00 and gave the company a "buy" rating in a report on Thursday, February 13th. JPMorgan Chase & Co. raised shares of Iris Energy from a "neutral" rating to an "overweight" rating and cut their target price for the company from $15.00 to $12.00 in a research note on Thursday, March 13th. Canaccord Genuity Group upped their price target on shares of Iris Energy from $17.00 to $23.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Needham & Company LLC reissued a "hold" rating on shares of Iris Energy in a research report on Thursday, February 13th. Finally, B. Riley upped their target price on Iris Energy from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $20.40.
Check Out Our Latest Stock Report on IREN
Iris Energy Price Performance
The stock has a 50-day simple moving average of $8.95 and a 200-day simple moving average of $10.05.
Iris Energy (NASDAQ:IREN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.09 EPS for the quarter, beating analysts' consensus estimates 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 anticipate that Iris Energy Limited will post 0.43 earnings per share for the current year.
Institutional Trading of Iris Energy
Several hedge funds and other institutional investors have recently bought and sold shares of IREN. Stonebridge Financial Group LLC acquired a new position in shares of Iris Energy in the 4th quarter worth approximately $29,000. HM Payson & Co. bought a new position in shares of Iris Energy in the 4th quarter worth about $30,000. R Squared Ltd acquired a new position in shares of Iris Energy in the 4th quarter valued at about $37,000. Main Management LLC acquired a new stake in Iris Energy during the fourth quarter worth about $49,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Iris Energy by 1,059.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,368 shares of the company's stock worth $82,000 after acquiring an additional 7,646 shares during the last quarter. 41.08% of the stock is owned by institutional investors.
About Iris Energy
(
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
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