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

Shares of Iris Energy Limited (NASDAQ:IREN) have been assigned an average rating of “Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat Ratings 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 objective among analysts that have issued a report on the stock in the last year is $15.44.

IREN has been the topic of several research analyst reports. Needham & Company LLC initiated coverage on shares of Iris Energy in a report on Wednesday, September 4th. They issued a “hold” rating on the stock. B. Riley lowered their price target on shares of Iris Energy from $17.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Roth Capital raised shares of Iris Energy to a “strong-buy” rating in a report on Tuesday, October 1st. Roth Mkm initiated coverage on shares of Iris Energy in a report on Wednesday, October 2nd. They issued a “buy” rating and a $14.00 price target on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 price target on shares of Iris Energy in a report on Wednesday, October 30th.

Iris Energy Trading Down 5.1 %

Shares of NASDAQ:IREN opened at $10.33 on Tuesday. Iris Energy has a 52-week low of $2.79 and a 52-week high of $15.75. The company has a 50-day simple moving average of $8.87 and a 200 day simple moving average of $9.10.

Institutional Trading of Iris Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. Truist Financial Corp lifted its holdings in shares of Iris Energy by 3.2% during the second quarter. Truist Financial Corp now owns 51,575 shares of the company’s stock worth $582,000 after purchasing an additional 1,575 shares during the period. Chesapeake Capital Corp IL lifted its holdings in shares of Iris Energy by 27.9% during the third quarter. Chesapeake Capital Corp IL now owns 17,695 shares of the company’s stock worth $157,000 after purchasing an additional 3,861 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in shares of Iris Energy by 13.2% during the third quarter. Chicago Partners Investment Group LLC now owns 54,515 shares of the company’s stock worth $473,000 after purchasing an additional 6,347 shares during the period. Bluefin Capital Management LLC acquired a new position in shares of Iris Energy during the second quarter worth $113,000. Finally, AFG Fiduciary Services Limited Partnership acquired a new position in shares of Iris Energy during the third quarter worth $77,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

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.