Iris Energy Limited (NASDAQ:IREN - Get Free Report)'s stock price fell 9.3% during mid-day trading on Tuesday . The stock traded as low as $5.33 and last traded at $5.34. 9,386,475 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 15,273,477 shares. The stock had previously closed at $5.88.
Analyst Ratings Changes
Several research analysts have recently commented on the company. JPMorgan Chase & Co. upgraded Iris Energy from a "neutral" rating to an "overweight" rating and reduced their price target for the stock from $15.00 to $12.00 in a report on Thursday, March 13th. Canaccord Genuity Group boosted their target price on shares of Iris Energy from $17.00 to $23.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Needham & Company LLC reissued a "hold" rating on shares of Iris Energy in a research note on Thursday, February 13th. BTIG Research began coverage on shares of Iris Energy in a research report on Friday, December 20th. They set a "buy" rating and a $33.00 price target on the stock. Finally, HC Wainwright increased their price objective on Iris Energy from $16.00 to $22.00 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 issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $20.40.
View Our Latest Stock Report on IREN
Iris Energy Stock Up 2.6 %
The stock has a 50 day moving average price of $8.38 and a two-hundred day moving average price of $9.91.
Iris Energy (NASDAQ:IREN - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.13. Iris Energy had a negative return on equity of 3.98% and a negative net margin of 17.94%. Sell-side analysts predict that Iris Energy Limited will post 0.43 EPS for the current fiscal year.
Institutional Investors Weigh In On Iris Energy
A number of hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its stake in shares of Iris Energy by 8.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 362,026 shares of the company's stock worth $3,055,000 after acquiring an additional 29,311 shares in the last quarter. State Street Corp boosted its holdings in Iris Energy by 62.2% in the third quarter. State Street Corp now owns 79,759 shares of the company's stock valued at $673,000 after purchasing an additional 30,576 shares during the period. Wellington Management Group LLP grew its stake in Iris Energy by 28.3% during the 3rd quarter. Wellington Management Group LLP now owns 36,651 shares of the company's stock worth $309,000 after purchasing an additional 8,092 shares in the last quarter. Geode Capital Management LLC increased its holdings in Iris Energy by 56.3% during the 3rd quarter. Geode Capital Management LLC now owns 735,071 shares of the company's stock worth $6,204,000 after purchasing an additional 264,883 shares during the period. Finally, Harbour Capital Advisors LLC acquired a new stake in Iris Energy in the 4th quarter valued at about $282,000. 41.08% of the stock is currently owned by institutional investors and hedge funds.
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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