Iris Energy Limited (NASDAQ:IREN - Get Free Report)'s share price was up 5.3% on Tuesday . The stock traded as high as $6.32 and last traded at $6.41. Approximately 3,269,527 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 15,249,493 shares. The stock had previously closed at $6.09.
Wall Street Analyst Weigh In
A number of brokerages recently commented on IREN. Cantor Fitzgerald restated an "overweight" rating and set a $23.00 price objective on shares of Iris Energy in a report on Thursday, February 13th. HC Wainwright boosted their price target on Iris Energy from $16.00 to $22.00 and gave the company 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. BTIG Research started coverage on Iris Energy in a research report on Friday, December 20th. They issued a "buy" rating and a $33.00 target price on the stock. Finally, Canaccord Genuity Group upped their price target on Iris Energy from $17.00 to $23.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $20.40.
Check Out Our Latest Stock Report on Iris Energy
Iris Energy Trading Down 1.7 %
The stock's fifty day moving average is $9.04 and its two-hundred day moving average is $10.05.
Iris Energy (NASDAQ:IREN - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.13. Iris Energy had a negative net margin of 17.94% and a negative return on equity of 3.98%. Analysts anticipate that Iris Energy Limited will post 0.43 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its holdings in Iris Energy by 8.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 362,026 shares of the company's stock valued at $3,055,000 after purchasing an additional 29,311 shares during the last quarter. SageView Advisory Group LLC raised its position in shares of Iris Energy by 202.2% in the third quarter. SageView Advisory Group LLC now owns 37,619 shares of the company's stock valued at $318,000 after purchasing an additional 25,169 shares during the period. State Street Corp boosted its holdings in shares of Iris Energy by 62.2% during the 3rd quarter. State Street Corp now owns 79,759 shares of the company's stock worth $673,000 after buying an additional 30,576 shares during the period. Wellington Management Group LLP grew its stake in Iris Energy by 28.3% in the 3rd quarter. Wellington Management Group LLP now owns 36,651 shares of the company's stock valued at $309,000 after buying an additional 8,092 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC acquired a new position in Iris Energy in the 3rd quarter valued at about $927,000. 41.08% of the stock is currently owned by 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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