Iris Energy Limited (NASDAQ:IREN – Get Free Report) shares gapped up before the market opened on Wednesday after Canaccord Genuity Group raised their price target on the stock from $12.00 to $15.00. The stock had previously closed at $10.89, but opened at $11.24. Canaccord Genuity Group currently has a buy rating on the stock. Iris Energy shares last traded at $11.12, with a volume of 2,175,167 shares changing hands.
Several other research analysts have also commented on IREN. Cantor Fitzgerald raised Iris Energy to a “strong-buy” rating in a report on Wednesday, June 12th. HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of Iris Energy in a report on Thursday, May 16th. Sanford C. Bernstein initiated coverage on Iris Energy in a report on Wednesday, July 10th. They set an “outperform” rating and a $26.00 price objective for the company. JPMorgan Chase & Co. upped their target price on Iris Energy from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 4th. Finally, B. Riley cut their target price on Iris Energy from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Friday, July 12th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Iris Energy has a consensus rating of “Buy” and an average price target of $17.83.
Read Our Latest Report on Iris Energy
Institutional Trading of Iris Energy
Iris Energy Stock Down 7.6 %
The stock has a 50 day simple moving average of $11.03 and a 200-day simple moving average of $7.28.
Iris Energy (NASDAQ:IREN – Get Free Report) last announced its earnings results on Wednesday, May 15th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.04). The firm had revenue of $54.35 million during the quarter, compared to analysts’ expectations of $58.41 million.
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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