Iris Energy’s (IREN) “Neutral” Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their neutral rating on shares of Iris Energy (NASDAQ:IREN) in a research report report published on Tuesday, Marketbeat.com reports. They currently have a $15.00 price target on the stock, up from their previous price target of $9.50.

A number of other research analysts have also recently commented on IREN. Roth Capital raised Iris Energy to a “strong-buy” rating in a report on Tuesday, October 1st. Needham & Company LLC reissued a “hold” rating on shares of Iris Energy in a report on Wednesday, November 27th. HC Wainwright upped their target price on shares of Iris Energy from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Cantor Fitzgerald lifted their price target on shares of Iris Energy from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Finally, Compass Point decreased their price objective on Iris Energy from $18.50 to $16.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Iris Energy has an average rating of “Moderate Buy” and a consensus price target of $17.56.

Iris Energy Price Performance

NASDAQ:IREN opened at $13.43 on Tuesday. The business’s 50-day simple moving average is $10.61 and its two-hundred day simple moving average is $10.02. Iris Energy has a 52 week low of $3.56 and a 52 week high of $15.92.

Hedge Funds Weigh In On Iris Energy

Large investors have recently made changes to their positions in the company. Marshall Wace LLP grew its position in Iris Energy by 33.6% in the 2nd quarter. Marshall Wace LLP now owns 3,811,780 shares of the company’s stock valued at $43,035,000 after acquiring an additional 958,494 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Iris Energy by 56.1% in the third quarter. Van ECK Associates Corp now owns 1,605,671 shares of the company’s stock worth $13,938,000 after purchasing an additional 576,726 shares during the last quarter. D1 Capital Partners L.P. purchased a new position in Iris Energy in the 2nd quarter worth about $17,319,000. Hood River Capital Management LLC bought a new stake in Iris Energy during the 2nd quarter valued at about $13,618,000. Finally, Bank of Montreal Can purchased a new stake in Iris Energy in the 2nd quarter valued at about $9,969,000. 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.