Iris Energy Limited (NASDAQ:IREN - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $10.88, but opened at $11.31. Iris Energy shares last traded at $10.65, with a volume of 2,805,621 shares.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on IREN shares. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $20.00 price objective on shares of Iris Energy in a research report on Wednesday, October 30th. Needham & Company LLC started coverage on Iris Energy in a research report on Wednesday, September 4th. They set a "hold" rating on the stock. Roth Mkm began coverage on shares of Iris Energy in a research report on Wednesday, October 2nd. They set a "buy" rating and a $14.00 price objective for the company. Macquarie raised their price objective on Iris Energy from $12.00 to $13.50 and gave the stock an "outperform" rating in a research note on Friday, August 30th. Finally, B. Riley reduced their price target on shares of Iris Energy from $17.00 to $12.00 and set a "buy" rating for the company in a research report on Friday, September 13th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $15.44.
Get Our Latest Report on IREN
Iris Energy Stock Down 5.1 %
The firm has a fifty day moving average price of $8.87 and a 200 day moving average price of $9.10.
Institutional Investors Weigh In On Iris Energy
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. acquired a new position in shares of Iris Energy during the 1st quarter worth approximately $893,000. Central Asset Investments & Management Holdings HK Ltd bought a new position in Iris Energy during the 2nd quarter worth $779,000. Van ECK Associates Corp increased its holdings 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 in the last quarter. Vontobel Holding Ltd. increased its stake in Iris Energy by 123.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 49,322 shares of the company's stock valued at $416,000 after purchasing an additional 27,212 shares in the last quarter. Finally, Creative Planning grew its stake in shares of Iris Energy by 71.2% in the 3rd quarter. Creative Planning now owns 457,625 shares of the company's stock worth $3,862,000 after acquiring an additional 190,300 shares in the last quarter. Institutional investors own 41.08% of the company's stock.
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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