Iris Energy Limited (NASDAQ:IREN - Get Free Report)'s share price gapped up before the market opened on Monday . The stock had previously closed at $7.74, but opened at $8.11. Iris Energy shares last traded at $8.10, with a volume of 2,643,457 shares changing hands.
Wall Street Analyst Weigh In
IREN has been the topic of a number of recent analyst reports. Cantor Fitzgerald restated an "overweight" rating and set a $20.00 price target on shares of Iris Energy in a research report on Thursday, October 3rd. HC Wainwright decreased their price target on Iris Energy from $15.00 to $13.00 and set a "buy" rating for the company in a research note on Thursday, August 29th. B. Riley dropped their price objective on Iris Energy from $17.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, September 13th. Roth Capital upgraded shares of Iris Energy to a "strong-buy" rating in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Iris Energy from $11.00 to $9.50 and set an "overweight" rating for the company in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Iris Energy presently has an average rating of "Buy" and a consensus price target of $15.44.
Get Our Latest Stock Report on IREN
Iris Energy Stock Up 10.2 %
The firm's 50-day moving average price is $7.82 and its two-hundred day moving average price is $8.35.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of IREN. D1 Capital Partners L.P. acquired a new stake in Iris Energy during the 2nd quarter worth about $17,319,000. Hood River Capital Management LLC acquired a new stake in shares of Iris Energy during the second quarter worth approximately $13,618,000. Marshall Wace LLP grew its position in Iris Energy by 33.6% during the second quarter. Marshall Wace LLP now owns 3,811,780 shares of the company's stock valued at $43,035,000 after purchasing an additional 958,494 shares in the last quarter. Bank of Montreal Can acquired a new position in Iris Energy in the 2nd quarter valued at approximately $9,969,000. Finally, Vident Advisory LLC lifted its position in Iris Energy by 58.0% in the 1st quarter. Vident Advisory LLC now owns 1,954,998 shares of the company's stock worth $10,557,000 after buying an additional 717,843 shares in the last quarter. Hedge funds and other institutional investors own 41.08% of the company's stock.
About Iris Energy
(
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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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