Iris Energy Limited (NASDAQ:IREN - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $11.25, but opened at $11.88. Iris Energy shares last traded at $11.66, with a volume of 2,923,267 shares traded.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Iris Energy in a research note on Wednesday, November 27th. HC Wainwright upped their price target on shares of Iris Energy from $13.00 to $16.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $15.00 price objective (up previously from $9.50) on shares of Iris Energy in a report on Tuesday, December 10th. B. Riley upped their target price on shares of Iris Energy from $15.00 to $16.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Finally, Roth Capital upgraded Iris Energy to a "strong-buy" rating in a research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $19.50.
Read Our Latest Report on Iris Energy
Iris Energy Stock Up 5.0 %
The business's fifty day simple moving average is $11.29 and its 200-day simple moving average is $10.26.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of IREN. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Iris Energy by 1,521.1% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 188,051 shares of the company's stock valued at $2,123,000 after purchasing an additional 176,451 shares during the last quarter. MKP Capital Management L.L.C. purchased a new stake in shares of Iris Energy in the second quarter valued at $3,139,000. X Square Capital LLC purchased a new stake in shares of Iris Energy in the second quarter valued at $508,000. VitalStone Financial LLC boosted its stake in shares of Iris Energy by 467.1% during the 2nd quarter. VitalStone Financial LLC now owns 79,285 shares of the company's stock worth $895,000 after purchasing an additional 65,305 shares during the period. Finally, Central Asset Investments & Management Holdings HK Ltd bought a new position in Iris Energy during the 2nd quarter valued at about $779,000. 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.
Further Reading
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