Iris Energy (NASDAQ:IREN) Now Covered by Roth Mkm

Roth Mkm assumed coverage on shares of Iris Energy (NASDAQ:IREN) in a research report sent to investors on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating and a $14.00 price objective on the stock.

A number of other equities analysts have also issued reports on IREN. Needham & Company LLC began coverage on shares of Iris Energy in a research report on Wednesday, September 4th. They set a hold rating on the stock. Compass Point lowered their price objective 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. B. Riley reduced their target price on shares of Iris Energy from $17.00 to $12.00 and set a buy rating for the company in a report on Friday, September 13th. Sanford C. Bernstein assumed coverage on Iris Energy in a report on Wednesday, July 10th. They set an outperform rating and a $26.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on Iris Energy from $11.00 to $9.50 and set an overweight rating for the company in a research note on Friday, August 23rd. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Buy and a consensus target price of $15.44.

Iris Energy Stock Performance

NASDAQ:IREN opened at $8.68 on Wednesday. Iris Energy has a 52-week low of $2.79 and a 52-week high of $15.75. The stock’s 50 day moving average price is $7.98 and its 200 day moving average price is $8.23.

Hedge Funds Weigh In On Iris Energy

A number of large investors have recently modified their holdings of the business. VitalStone Financial LLC grew its holdings in Iris Energy by 373.9% during the first quarter. VitalStone Financial LLC now owns 13,980 shares of the company’s stock worth $71,000 after acquiring an additional 11,030 shares during the period. CCG Wealth Management LLC purchased a new stake in shares of Iris Energy during the 1st quarter worth $72,000. Bluefin Capital Management LLC acquired a new position in shares of Iris Energy during the 2nd quarter worth $113,000. PEAK6 Investments LLC purchased a new position in shares of Iris Energy in the 1st quarter valued at about $133,000. Finally, Seven Eight Capital LP acquired a new stake in shares of Iris Energy in the second quarter valued at about $146,000. 41.08% of the stock is owned by hedge funds and other institutional investors.

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.