Shares of Iris Energy Limited (NASDAQ:IREN - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $7.70, but opened at $7.27. Iris Energy shares last traded at $6.86, with a volume of 2,482,566 shares trading hands.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the company. HC Wainwright boosted their price objective on Iris Energy from $16.00 to $22.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Cantor Fitzgerald restated an "overweight" rating and set a $23.00 target price on shares of Iris Energy in a report on Thursday, February 13th. Canaccord Genuity Group increased their price objective on Iris Energy from $17.00 to $23.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. B. Riley increased their price objective on Iris Energy from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. raised Iris Energy from a "neutral" rating to an "overweight" rating and cut their target price for the stock from $15.00 to $12.00 in a research note on Thursday. 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $20.40.
View Our Latest Stock Report on IREN
Iris Energy Stock Up 6.8 %
The business has a 50 day moving average price of $10.52 and a 200 day moving average price of $10.11.
Iris Energy (NASDAQ:IREN - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.09 EPS for the quarter, beating 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%. As a group, equities research analysts anticipate that Iris Energy Limited will post 0.43 EPS for the current year.
Institutional Investors Weigh In On Iris Energy
Several institutional investors have recently modified their holdings of IREN. Arrowstreet Capital Limited Partnership boosted its position in shares of Iris Energy by 1,307.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,684,836 shares of the company's stock valued at $55,825,000 after buying an additional 5,280,999 shares during the last quarter. Discovery Capital Management LLC CT bought a new position in Iris Energy in the fourth quarter valued at about $11,544,000. Two Sigma Investments LP lifted its holdings in Iris Energy by 193.2% in the fourth quarter. Two Sigma Investments LP now owns 1,602,642 shares of the company's stock valued at $15,738,000 after acquiring an additional 1,056,005 shares during the period. Regal Partners Ltd lifted its holdings in Iris Energy by 93.9% in the fourth quarter. Regal Partners Ltd now owns 1,697,554 shares of the company's stock valued at $16,670,000 after acquiring an additional 822,251 shares during the period. Finally, D. E. Shaw & Co. Inc. bought a new position in Iris Energy in the fourth quarter valued at about $7,162,000. 41.08% of the stock is owned by hedge funds and other institutional investors.
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.
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