Iris Energy Limited (NASDAQ:IREN - Get Free Report)'s share price was down 3.6% on Wednesday . The company traded as low as $13.20 and last traded at $13.23. Approximately 2,285,386 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 13,746,665 shares. The stock had previously closed at $13.73.
Wall Street Analyst Weigh In
Several brokerages have commented on IREN. B. Riley dropped their price target on Iris Energy from $17.00 to $12.00 and set a "buy" rating for the company in a research note on Friday, September 13th. Roth Capital raised shares of Iris Energy to a "strong-buy" rating in a research report on Tuesday, October 1st. HC Wainwright boosted their price objective on shares of Iris Energy from $13.00 to $16.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. Needham & Company LLC reissued a "hold" rating on shares of Iris Energy in a research report on Wednesday, November 27th. Finally, Cantor Fitzgerald raised their target price on shares of Iris Energy from $20.00 to $23.00 and gave the company an "overweight" rating in a research note on Wednesday, November 27th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Iris Energy presently has an average rating of "Moderate Buy" and an average target price of $17.56.
Check Out Our Latest Stock Report on Iris Energy
Iris Energy Price Performance
The business's fifty day simple moving average is $10.92 and its 200 day simple moving average is $10.18.
Hedge Funds Weigh In On Iris Energy
Several institutional investors and hedge funds have recently made changes to their positions in the business. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in Iris Energy in the second quarter valued at $779,000. Main Management ETF Advisors LLC bought a new stake in shares of Iris Energy in the 3rd quarter worth about $760,000. Van ECK Associates Corp raised its stake in shares of Iris Energy by 56.1% in the 3rd 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. Vontobel Holding Ltd. lifted its position in shares of Iris Energy by 123.1% during the third quarter. Vontobel Holding Ltd. now owns 49,322 shares of the company's stock worth $416,000 after purchasing an additional 27,212 shares during the last quarter. Finally, Creative Planning grew its stake in Iris Energy by 71.2% in the third quarter. Creative Planning now owns 457,625 shares of the company's stock worth $3,862,000 after purchasing an additional 190,300 shares in the last quarter. 41.08% of the stock is currently owned by hedge funds and other 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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