Weekly Analysts’ Ratings Updates for Iris Energy (IREN)

A number of firms have modified their ratings and price targets on shares of Iris Energy (NASDAQ: IREN) recently:

• 9/13/2024 – Iris Energy had its price target lowered by analysts at B. Riley from $17.00 to $12.00. They now have a “buy” rating on the stock.
• 9/4/2024 – Iris Energy is now covered by analysts at Needham & Company LLC. They set a “hold” rating on the stock.
• 8/30/2024 – Iris Energy had its price target raised by analysts at Macquarie from $12.00 to $13.50. They now have an “outperform” rating on the stock.
• 8/30/2024 – Iris Energy had its price target lowered by analysts at Compass Point from $18.50 to $16.00. They now have a “buy” rating on the stock.
• 8/29/2024 – Iris Energy had its price target lowered by analysts at Cantor Fitzgerald from $23.00 to $20.00. They now have an “overweight” rating on the stock.
• 8/29/2024 – Iris Energy had its “buy” rating reaffirmed by analysts at Canaccord Genuity Group Inc.. They now have a $15.00 price target on the stock.
• 8/29/2024 – Iris Energy had its price target lowered by analysts at HC Wainwright from $15.00 to $13.00. They now have a “buy” rating on the stock.
• 8/23/2024 – Iris Energy had its price target lowered by analysts at JPMorgan Chase & Co. from $11.00 to $9.50. They now have an “overweight” rating on the stock.
• 7/24/2024 – Iris Energy had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $23.00 price target on the stock.
• 7/24/2024 – Iris Energy had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $15.00 price target on the stock.
• 7/24/2024 – Iris Energy had its price target raised by analysts at Canaccord Genuity Group Inc. from $12.00 to $15.00. They now have a “buy” rating on the stock.

Iris Energy Stock Performance

Shares of IREN traded down $0.09 on Friday, reaching $7.70. The stock had a trading volume of 806,324 shares, compared to its average volume of 12,376,339. Iris Energy Limited has a twelve month low of $2.79 and a twelve month high of $15.75. The firm has a 50-day moving average of $8.57 and a 200 day moving average of $7.98.

Institutional Investors Weigh In On Iris Energy

Several hedge funds have recently modified their holdings of the company. Truist Financial Corp grew its stake in 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 buying an additional 1,575 shares during the period. Bluefin Capital Management LLC purchased a new stake in Iris Energy during the 2nd quarter worth $113,000. VitalStone Financial LLC increased its holdings in Iris Energy by 373.9% in the 1st quarter. VitalStone Financial LLC now owns 13,980 shares of the company’s stock valued at $71,000 after purchasing an additional 11,030 shares in the last quarter. Jump Financial LLC raised its position in Iris Energy by 33.1% in the fourth quarter. Jump Financial LLC now owns 49,400 shares of the company’s stock valued at $353,000 after purchasing an additional 12,290 shares during the period. Finally, Seven Eight Capital LP acquired a new position in shares of Iris Energy during the second quarter worth about $146,000. 41.08% of the stock is owned by institutional investors and hedge funds.

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