Shares of Iris Energy Limited (NASDAQ:IREN – Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $10.46, but opened at $11.15. Iris Energy shares last traded at $11.22, with a volume of 1,799,005 shares trading hands.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Iris Energy in a report on Wednesday, November 27th. B. Riley lifted their target price on Iris Energy from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Roth Mkm assumed coverage on Iris Energy in a report on Wednesday, October 2nd. They set a “buy” rating and a $14.00 target price for the company. JPMorgan Chase & Co. restated a “neutral” rating and set a $15.00 price objective (up previously from $9.50) on shares of Iris Energy in a report on Tuesday, December 10th. Finally, 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. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.50.
Get Our Latest Report on Iris Energy
Iris Energy Trading Up 5.3 %
Hedge Funds Weigh In On Iris Energy
A number of hedge funds have recently modified their holdings of IREN. Bluefin Capital Management LLC purchased a new position in Iris Energy in the second quarter valued at about $113,000. AFG Fiduciary Services Limited Partnership bought a new stake in shares of Iris Energy in the 3rd quarter valued at approximately $77,000. Covestor Ltd bought a new position in Iris Energy during the third quarter valued at approximately $87,000. Sippican Capital Advisors bought a new position in Iris Energy during the third quarter valued at approximately $94,000. Finally, Seven Eight Capital LP bought a new stake in Iris Energy in the second quarter worth approximately $146,000. 41.08% of the stock is owned by institutional investors and hedge funds.
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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