Iris Energy Limited (NASDAQ:IREN – Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $11.00, but opened at $10.32. Iris Energy shares last traded at $10.40, with a volume of 2,452,604 shares.
Analyst Ratings Changes
IREN has been the subject of a number of research reports. Needham & Company LLC reiterated a “hold” rating on shares of Iris Energy in a research report on Wednesday, November 27th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $15.00 price objective (up previously from $9.50) on shares of Iris Energy in a research note on Tuesday, December 10th. HC Wainwright upped their target price on shares of Iris Energy from $13.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Roth Capital upgraded shares of Iris Energy to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, Macquarie upped their price objective on Iris Energy from $13.50 to $19.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.50.
View Our Latest Report on Iris Energy
Iris Energy Trading Up 4.9 %
Institutional Trading of Iris Energy
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Central Asset Investments & Management Holdings HK Ltd purchased a new stake in Iris Energy during the 2nd quarter valued at approximately $779,000. Main Management ETF Advisors LLC purchased a new position in shares of Iris Energy in the third quarter worth $760,000. Van ECK Associates Corp boosted its position in shares of 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 during the last quarter. Vontobel Holding Ltd. grew its stake in Iris Energy by 123.1% during the third quarter. Vontobel Holding Ltd. now owns 49,322 shares of the company’s stock valued at $416,000 after acquiring an additional 27,212 shares in the last quarter. Finally, Creative Planning increased its holdings in Iris Energy by 71.2% in 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 last quarter. Institutional investors own 41.08% of the company’s stock.
Iris Energy Company Profile
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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