Iris Energy Limited (NASDAQ:IREN - Get Free Report) rose 6.3% during trading on Friday . The company traded as high as $8.41 and last traded at $8.36. Approximately 5,151,497 shares traded hands during trading, a decline of 69% from the average daily volume of 16,382,578 shares. The stock had previously closed at $7.86.
Analyst Ratings Changes
Several brokerages have issued reports on IREN. HC Wainwright lifted their price objective on Iris Energy from $16.00 to $22.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Cantor Fitzgerald restated an "overweight" rating and issued a $23.00 target price on shares of Iris Energy in a research note on Thursday, February 13th. Needham & Company LLC reiterated a "hold" rating on shares of Iris Energy in a research report on Thursday, February 13th. BTIG Research assumed coverage on shares of Iris Energy in a research report on Friday, December 20th. They issued a "buy" rating and a $33.00 price objective for the company. Finally, Canaccord Genuity Group boosted their target price on shares of Iris Energy from $17.00 to $23.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $20.70.
View Our Latest Report on IREN
Iris Energy Stock Performance
The stock's 50 day moving average is $11.07 and its two-hundred day moving average is $10.19.
Iris Energy (NASDAQ:IREN - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $0.09 EPS for the quarter, beating 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%. On average, analysts predict that Iris Energy Limited will post 0.43 EPS for the current year.
Hedge Funds Weigh In On Iris Energy
Hedge funds have recently added to or reduced their stakes in the stock. Gladstone Institutional Advisory LLC bought a new stake in shares of Iris Energy in the 3rd quarter valued at about $345,000. Chicago Partners Investment Group LLC grew its holdings in Iris Energy by 13.2% during the third quarter. Chicago Partners Investment Group LLC now owns 54,515 shares of the company's stock valued at $473,000 after purchasing an additional 6,347 shares during the period. Van ECK Associates Corp increased its stake in Iris Energy by 56.1% in the third quarter. Van ECK Associates Corp now owns 1,605,671 shares of the company's stock valued at $13,938,000 after purchasing an additional 576,726 shares in the last quarter. Harvest Portfolios Group Inc. raised its holdings in Iris Energy by 45.6% in the third quarter. Harvest Portfolios Group Inc. now owns 59,974 shares of the company's stock worth $506,000 after purchasing an additional 18,796 shares during the period. Finally, Covestor Ltd bought a new position in shares of Iris Energy during the third quarter worth $87,000. Institutional investors and hedge funds 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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