Iris Energy (NASDAQ:IREN) Price Target Raised to $12.00

Iris Energy (NASDAQ:IRENFree Report) had its price objective hoisted by Canaccord Genuity Group from $9.00 to $12.00 in a research note published on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also issued reports on IREN. B. Riley decreased their price target on shares of Iris Energy from $10.00 to $9.50 and set a buy rating for the company in a report on Friday, March 15th. Cantor Fitzgerald restated an overweight rating and issued a $10.00 price target on shares of Iris Energy in a report on Thursday, March 28th. Finally, HC Wainwright reiterated a buy rating and set a $10.00 price objective on shares of Iris Energy in a report on Tuesday, April 2nd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Iris Energy has a consensus rating of Buy and a consensus target price of $12.50.

Read Our Latest Research Report on IREN

Iris Energy Stock Performance

Shares of IREN opened at $6.02 on Thursday. The stock’s 50-day moving average price is $5.11 and its two-hundred day moving average price is $5.21. Iris Energy has a 1 year low of $2.79 and a 1 year high of $9.69.

Iris Energy (NASDAQ:IRENGet Free Report) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter. The company had revenue of $42.57 million for the quarter, compared to analysts’ expectations of $37.58 million. On average, research analysts forecast that Iris Energy will post 0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Tucker Asset Management LLC acquired a new position in Iris Energy during the 3rd quarter worth approximately $47,000. VitalStone Financial LLC lifted its position in shares of Iris Energy by 373.9% in the first quarter. VitalStone Financial LLC now owns 13,980 shares of the company’s stock worth $71,000 after purchasing an additional 11,030 shares in the last quarter. CCG Wealth Management LLC acquired a new position in Iris Energy during the first quarter worth $72,000. Counterpoint Mutual Funds LLC bought a new position in Iris Energy in the fourth quarter valued at $84,000. Finally, PEAK6 Investments LLC acquired a new stake in Iris Energy in the 1st quarter valued at $133,000. 41.08% of the stock is 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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