Brokerages Set Iris Energy Limited (NASDAQ:IREN) PT at $15.44

Iris Energy Limited (NASDAQ:IREN) has been given an average rating of “Buy” by the eleven ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $15.44.

Several equities research analysts recently commented on IREN shares. JPMorgan Chase & Co. cut their target price on shares of Iris Energy from $11.00 to $9.50 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $20.00 target price on shares of Iris Energy in a research report on Wednesday, October 30th. HC Wainwright cut their target price on shares of Iris Energy from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Macquarie lifted their target price on shares of Iris Energy from $12.00 to $13.50 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Finally, Compass Point dropped their price target on shares of Iris Energy from $18.50 to $16.00 and set a “buy” rating on the stock in a research report on Friday, August 30th.

Institutional Trading of Iris Energy

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in shares of Iris Energy by 56.3% in the 3rd quarter. Geode Capital Management LLC now owns 735,071 shares of the company’s stock valued at $6,204,000 after acquiring an additional 264,883 shares in the last quarter. Sender Co & Partners Inc. bought a new stake in shares of Iris Energy in the 3rd quarter valued at $561,000. Continuum Advisory LLC bought a new stake in shares of Iris Energy in the 3rd quarter valued at $430,000. Y Intercept Hong Kong Ltd grew its stake in Iris Energy by 592.2% in the third quarter. Y Intercept Hong Kong Ltd now owns 206,706 shares of the company’s stock valued at $1,745,000 after acquiring an additional 176,843 shares during the period. Finally, Main Management ETF Advisors LLC bought a new stake in shares of Iris Energy during the third quarter valued at approximately $760,000. Institutional investors own 41.08% of the company’s stock.

Iris Energy Trading Up 3.3 %

NASDAQ:IREN opened at $10.67 on Tuesday. The firm’s 50 day simple moving average is $8.96 and its 200 day simple moving average is $9.17. Iris Energy has a one year low of $2.79 and a one year high of $15.75.

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.