Iris Energy Limited (NASDAQ:IREN - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $8.24, but opened at $8.91. Iris Energy shares last traded at $8.32, with a volume of 4,779,313 shares.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on IREN shares. Needham & Company LLC reiterated a "hold" rating on shares of Iris Energy in a research report on Thursday, February 13th. BTIG Research began coverage on shares of Iris Energy in a report on Friday, December 20th. They issued a "buy" rating and a $33.00 price objective for the company. B. Riley increased their target price on shares of Iris Energy from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $15.00 price objective (up previously from $9.50) on shares of Iris Energy in a research report on Tuesday, December 10th. Finally, HC Wainwright increased their price objective on shares of Iris Energy from $16.00 to $22.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Iris Energy currently has a consensus rating of "Moderate Buy" and an average price target of $20.70.
View Our Latest Stock Analysis on IREN
Iris Energy Trading Down 5.5 %
The stock has a fifty day moving average price of $10.91 and a two-hundred day moving average price of $10.17.
Iris Energy (NASDAQ:IREN - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $0.09 earnings per share 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%. On average, sell-side analysts forecast that Iris Energy Limited will post 0.43 EPS for the current year.
Hedge Funds Weigh In On Iris Energy
Large investors have recently bought and sold shares of the stock. Van ECK Associates Corp increased its stake in shares of Iris Energy by 56.1% during the third quarter. Van ECK Associates Corp now owns 1,605,671 shares of the company's stock valued at $13,938,000 after acquiring an additional 576,726 shares during the period. Harvest Portfolios Group Inc. boosted its stake in Iris Energy by 45.6% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 59,974 shares of the company's stock valued at $506,000 after purchasing an additional 18,796 shares in the last quarter. Covestor Ltd acquired a new position in shares of Iris Energy during the 3rd quarter valued at $87,000. GSA Capital Partners LLP raised its stake in shares of Iris Energy by 49.7% in the 3rd quarter. GSA Capital Partners LLP now owns 49,482 shares of the company's stock worth $418,000 after buying an additional 16,435 shares in the last quarter. Finally, Regal Partners Ltd lifted its holdings in shares of Iris Energy by 2.7% in the third quarter. Regal Partners Ltd now owns 875,303 shares of the company's stock valued at $7,388,000 after buying an additional 23,132 shares during the period. 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.
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