Iris Energy Limited (NASDAQ:IREN - Get Free Report)'s stock price traded up 7.7% during mid-day trading on Friday . The company traded as high as $12.63 and last traded at $12.48. 11,853,034 shares were traded during trading, a decline of 30% from the average session volume of 16,860,459 shares. The stock had previously closed at $11.59.
Analyst Ratings Changes
A number of research analysts have weighed in on IREN shares. Macquarie raised their price objective on Iris Energy from $13.50 to $19.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. HC Wainwright raised their price objective on Iris Energy from $13.00 to $16.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Needham & Company LLC restated a "hold" rating on shares of Iris Energy in a report on Wednesday, November 27th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $15.00 price objective (up previously from $9.50) on shares of Iris Energy in a report on Tuesday, December 10th. Finally, Canaccord Genuity Group raised their target price on Iris Energy from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Iris Energy has an average rating of "Moderate Buy" and a consensus target price of $19.50.
Read Our Latest Research Report on IREN
Iris Energy Trading Down 3.4 %
The business has a 50-day moving average of $11.74 and a 200-day moving average of $9.92.
Iris Energy (NASDAQ:IREN - Get Free Report) last issued its quarterly earnings data on Tuesday, November 26th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.11). Iris Energy had a negative return on equity of 8.01% and a negative net margin of 36.10%. Analysts predict that Iris Energy Limited will post 0.11 earnings per share for the current fiscal year.
Institutional Trading of Iris Energy
Hedge funds and other institutional investors have recently modified their holdings of the business. Truist Financial Corp boosted its holdings in Iris Energy by 3.2% during the 2nd quarter. Truist Financial Corp now owns 51,575 shares of the company's stock valued at $582,000 after acquiring an additional 1,575 shares during the period. Exchange Traded Concepts LLC boosted its holdings in Iris Energy by 23.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 713,635 shares of the company's stock valued at $6,023,000 after acquiring an additional 136,643 shares during the period. VitalStone Financial LLC boosted its holdings in Iris Energy by 95.1% during the 3rd quarter. VitalStone Financial LLC now owns 154,681 shares of the company's stock valued at $1,306,000 after acquiring an additional 75,396 shares during the period. Creative Planning boosted its holdings in Iris Energy by 71.2% during the 3rd quarter. Creative Planning now owns 457,625 shares of the company's stock valued at $3,862,000 after acquiring an additional 190,300 shares during the period. Finally, AFG Fiduciary Services Limited Partnership purchased a new position in Iris Energy during the 3rd quarter valued at about $77,000. 41.08% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading
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