Iris Energy Limited (NASDAQ:IREN - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $10.16, but opened at $9.65. Iris Energy shares last traded at $9.09, with a volume of 2,748,709 shares.
Analysts Set New Price Targets
A number of research analysts have weighed in on IREN shares. B. Riley lifted their price target on shares of Iris Energy from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $15.00 target price (up previously from $9.50) on shares of Iris Energy in a research note on Tuesday, December 10th. 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. HC Wainwright increased their price target on Iris Energy from $16.00 to $22.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $23.00 price objective on shares of Iris Energy in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Iris Energy currently has a consensus rating of "Moderate Buy" and an average price target of $20.70.
Read Our Latest Analysis on IREN
Iris Energy Stock Performance
The firm has a 50 day moving average price of $11.22 and a two-hundred day moving average price of $10.14.
Iris Energy (NASDAQ:IREN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.09 earnings per share for the quarter, beating 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%. Sell-side analysts predict that Iris Energy Limited will post 0.43 EPS for the current fiscal year.
Institutional Trading of Iris Energy
Several institutional investors have recently added to or reduced their stakes in IREN. Stonebridge Financial Group LLC acquired a new position in Iris Energy during the 4th quarter worth $29,000. HM Payson & Co. bought a new position in shares of Iris Energy during the fourth quarter worth about $30,000. R Squared Ltd acquired a new position in Iris Energy in the fourth quarter worth about $37,000. Main Management LLC bought a new stake in Iris Energy in the fourth quarter valued at about $49,000. Finally, Tower Research Capital LLC TRC increased 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 valued at $82,000 after buying an additional 7,646 shares during the last quarter. 41.08% of the stock is owned by institutional investors and hedge funds.
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.
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