Iris Energy Limited (NASDAQ:IREN - Get Free Report)'s share price shot up 9.2% during mid-day trading on Thursday . The stock traded as high as $11.02 and last traded at $10.72. 3,632,975 shares traded hands during trading, a decline of 74% from the average session volume of 13,736,254 shares. The stock had previously closed at $9.82.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the company. Roth Capital raised Iris Energy to a "strong-buy" rating in a research note on Tuesday, October 1st. HC Wainwright lifted their price objective on shares of Iris Energy from $13.00 to $16.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. Canaccord Genuity Group increased their target price on shares of Iris Energy from $15.00 to $17.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. Macquarie boosted their price target on Iris Energy from $13.50 to $19.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Finally, B. Riley increased their price objective on Iris Energy from $15.00 to $16.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Iris Energy currently has an average rating of "Moderate Buy" and a consensus target price of $19.50.
Read Our Latest Research Report on Iris Energy
Iris Energy Stock Up 6.5 %
The firm's 50-day simple moving average is $11.45 and its 200-day simple moving average is $10.19.
Hedge Funds Weigh In On Iris Energy
Several large investors have recently added to or reduced their stakes in IREN. D1 Capital Partners L.P. acquired a new position in shares of Iris Energy in the second quarter valued at $17,319,000. Hood River Capital Management LLC acquired a new position in shares of Iris Energy in the 2nd quarter valued at $13,618,000. Marshall Wace LLP lifted its holdings in shares of Iris Energy by 33.6% during the 2nd quarter. Marshall Wace LLP now owns 3,811,780 shares of the company's stock worth $43,035,000 after acquiring an additional 958,494 shares during the period. Bank of Montreal Can bought a new stake in shares of Iris Energy in the 2nd quarter valued at approximately $9,969,000. Finally, Van ECK Associates Corp raised its stake in Iris Energy by 56.1% during the third quarter. Van ECK Associates Corp now owns 1,605,671 shares of the company's stock worth $13,938,000 after acquiring an additional 576,726 shares in the last quarter. 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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