Iris Energy Limited (NASDAQ:IREN - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $7.35, but opened at $7.10. Iris Energy shares last traded at $6.97, with a volume of 1,408,850 shares traded.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on IREN shares. 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 research note on Thursday, February 13th. B. Riley raised 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. Cantor Fitzgerald reiterated an "overweight" rating and issued a $23.00 price target on shares of Iris Energy in a research report 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 price target for the company. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Iris Energy in a research note on Thursday, February 13th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $20.40.
Check Out Our Latest Stock Report on IREN
Iris Energy Trading Down 0.8 %
The stock's 50-day moving average price is $10.05 and its 200-day moving average price is $10.09.
Iris Energy (NASDAQ:IREN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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, research analysts forecast that Iris Energy Limited will post 0.43 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. JT Stratford LLC raised its holdings in shares of Iris Energy by 104.1% in the 4th quarter. JT Stratford LLC now owns 36,063 shares of the company's stock worth $354,000 after acquiring an additional 18,398 shares during the last quarter. Two Seas Capital LP increased its holdings in Iris Energy by 212.7% during the 4th quarter. Two Seas Capital LP now owns 860,000 shares of the company's stock worth $8,445,000 after purchasing an additional 585,000 shares in the last quarter. Continuum Advisory LLC increased its holdings in Iris Energy by 11.3% during the 4th quarter. Continuum Advisory LLC now owns 56,678 shares of the company's stock worth $557,000 after purchasing an additional 5,772 shares in the last quarter. Vident Advisory LLC raised its stake in shares of Iris Energy by 26.1% in the fourth quarter. Vident Advisory LLC now owns 2,937,918 shares of the company's stock worth $28,850,000 after purchasing an additional 608,736 shares during the last quarter. Finally, Twinbeech Capital LP bought a new position in shares of Iris Energy in the fourth quarter valued at approximately $4,324,000. 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.
Featured Articles
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 Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
