Iris Energy Limited (NASDAQ:IREN - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $7.57, but opened at $7.15. Iris Energy shares last traded at $6.96, with a volume of 4,601,687 shares trading hands.
Analysts Set New Price Targets
A number of equities analysts recently commented on the company. HC Wainwright increased their price target on Iris Energy from $16.00 to $22.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. B. Riley increased 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. JPMorgan Chase & Co. reissued a "neutral" rating and set a $15.00 price target (up from $9.50) on shares of Iris Energy in a research note on Tuesday, December 10th. Macquarie increased their price target on Iris Energy from $13.50 to $19.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $23.00 price objective on shares of Iris Energy in a research note on Thursday, February 13th. Two investment 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 company. According to MarketBeat.com, Iris Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.70.
View Our Latest Stock Report on IREN
Iris Energy Stock Up 1.0 %
The firm has a 50 day moving average price of $10.78 and a 200-day moving average price of $10.16.
Iris Energy (NASDAQ:IREN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.13. Iris Energy had a negative return on equity of 3.98% and a negative net margin of 17.94%. On average, sell-side analysts predict that Iris Energy Limited will post 0.43 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Iris Energy
A number of institutional investors and hedge funds have recently modified their holdings of IREN. Stonebridge Financial Group LLC bought a new stake in shares of Iris Energy during the 4th quarter worth approximately $29,000. HM Payson & Co. bought a new stake in shares of Iris Energy during the 4th quarter worth approximately $30,000. R Squared Ltd bought a new stake in shares of Iris Energy during the 4th quarter worth approximately $37,000. Main Management LLC bought a new stake in shares of Iris Energy during the 4th quarter worth approximately $49,000. Finally, Tower Research Capital LLC TRC increased its holdings in Iris Energy by 1,059.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,368 shares of the company's stock worth $82,000 after purchasing an additional 7,646 shares during the period. 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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