Iris Energy (NASDAQ:IREN) Given New $13.50 Price Target at Macquarie

Iris Energy (NASDAQ:IREN) had its price objective increased by Macquarie from $12.00 to $13.50 in a report issued on Friday, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also issued reports on IREN. JPMorgan Chase & Co. reduced their price objective on shares of Iris Energy from $11.00 to $9.50 and set an overweight rating for the company in a research note on Friday, August 23rd. B. Riley reduced their price target on Iris Energy from $18.00 to $17.00 and set a buy rating for the company in a research report on Friday, July 12th. Cantor Fitzgerald decreased their price target on Iris Energy from $23.00 to $20.00 and set an overweight rating for the company in a research note on Thursday. Canaccord Genuity Group reissued a buy rating and issued a $15.00 price objective on shares of Iris Energy in a research note on Thursday. Finally, Sanford C. Bernstein began coverage on Iris Energy in a report on Wednesday, July 10th. They issued an outperform rating and a $26.00 target price for the company. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of Buy and an average price target of $16.25.

Iris Energy Stock Down 7.2 %

Shares of IREN opened at $7.91 on Friday. Iris Energy has a twelve month low of $2.79 and a twelve month high of $15.75. The firm’s 50 day moving average price is $10.17 and its 200 day moving average price is $7.92.

Institutional Investors Weigh In On Iris Energy

Hedge funds have recently modified their holdings of the business. Truist Financial Corp raised its position 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 valued at $582,000 after buying an additional 1,575 shares during the last quarter. VitalStone Financial LLC raised 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 acquiring an additional 11,030 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new stake in shares of Iris Energy in the 4th quarter worth approximately $84,000. Jump Financial LLC increased its position in shares of Iris Energy by 33.1% during 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 in the second quarter valued at $146,000. 41.08% of the stock is owned by 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.