Iris Energy Limited (NASDAQ:IREN) Short Interest Update

Iris Energy Limited (NASDAQ:IREN) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 14,410,000 shares, an increase of 40.9% from the November 30th total of 10,230,000 shares. Based on an average daily volume of 17,540,000 shares, the short-interest ratio is presently 0.8 days. Currently, 8.0% of the company’s shares are sold short.

Institutional Investors Weigh In On Iris Energy

Several hedge funds have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. raised its position in shares of Iris Energy by 1,521.1% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 188,051 shares of the company’s stock worth $2,123,000 after acquiring an additional 176,451 shares in the last quarter. MKP Capital Management L.L.C. purchased a new stake in shares of Iris Energy during the second quarter valued at about $3,139,000. X Square Capital LLC bought a new stake in shares of Iris Energy in the 2nd quarter valued at about $508,000. VitalStone Financial LLC lifted its position in Iris Energy by 467.1% during the second quarter. VitalStone Financial LLC now owns 79,285 shares of the company’s stock valued at $895,000 after acquiring an additional 65,305 shares during the last quarter. Finally, Central Asset Investments & Management Holdings HK Ltd purchased a new stake in Iris Energy during the second quarter valued at approximately $779,000. Hedge funds and other institutional investors own 41.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. BTIG Research assumed coverage on Iris Energy in a report on Friday, December 20th. They set a “buy” rating and a $33.00 price target on the stock. HC Wainwright raised their target price on shares of Iris Energy from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Macquarie upped their price target on shares of Iris Energy from $13.50 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Roth Mkm initiated coverage on Iris Energy in a research report on Wednesday, October 2nd. They set a “buy” rating and a $14.00 target price for the company. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $15.00 price target (up from $9.50) on shares of Iris Energy in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.50.

Iris Energy Stock Performance

Shares of IREN stock traded down $0.77 on Monday, hitting $9.94. The stock had a trading volume of 11,241,107 shares, compared to its average volume of 13,730,730. Iris Energy has a one year low of $3.56 and a one year high of $15.92. The business has a 50 day moving average price of $11.41 and a 200 day moving average price of $10.24.

About Iris Energy

Iris Energy Limited owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.