Iris Energy Limited (NASDAQ:IREN - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $10.46, but opened at $11.15. Iris Energy shares last traded at $11.22, with a volume of 1,799,005 shares traded.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on IREN shares. Needham & Company LLC reissued a "hold" rating on shares of Iris Energy in a research note on Wednesday, November 27th. HC Wainwright boosted their price target on Iris Energy from $13.00 to $16.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. Canaccord Genuity Group lifted their price objective on shares of Iris Energy from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. 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 research note on Thursday, December 19th. Finally, Roth Mkm started coverage on shares of Iris Energy in a research note on Wednesday, October 2nd. They issued a "buy" rating and a $14.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Iris Energy has an average rating of "Moderate Buy" and an average price target of $19.50.
Check Out Our Latest Research Report on IREN
Iris Energy Stock Up 4.9 %
The stock's fifty day moving average is $11.66 and its two-hundred day moving average is $10.04.
Institutional Trading of Iris Energy
Hedge funds have recently made changes to their positions in the company. D1 Capital Partners L.P. purchased a new stake in shares of Iris Energy during the second quarter worth $17,319,000. Hood River Capital Management LLC purchased a new stake in Iris Energy during the 2nd quarter worth about $13,618,000. Marshall Wace LLP lifted its holdings in Iris Energy by 33.6% during the 2nd quarter. Marshall Wace LLP now owns 3,811,780 shares of the company's stock worth $43,035,000 after purchasing an additional 958,494 shares in the last quarter. Bank of Montreal Can bought a new position in Iris Energy in the 2nd quarter worth about $9,969,000. Finally, Van ECK Associates Corp grew its holdings in Iris Energy by 56.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,605,671 shares of the company's stock valued at $13,938,000 after buying an additional 576,726 shares in the last quarter. 41.08% of the stock is currently owned by institutional investors.
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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