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

Iris Energy Limited (NASDAQ:IREN) has received a consensus rating of “Buy” from the eleven analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $15.44.

A number of research firms recently issued reports on IREN. Macquarie boosted their target price on shares of Iris Energy from $12.00 to $13.50 and gave the company an “outperform” rating in a research report on Friday, August 30th. Canaccord Genuity Group reissued a “buy” rating and issued a $15.00 price objective on shares of Iris Energy in a report on Thursday, August 29th. Compass Point lowered their target price on Iris Energy from $18.50 to $16.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $20.00 price target on shares of Iris Energy in a research report on Thursday, October 3rd. Finally, Roth Capital raised Iris Energy to a “strong-buy” rating in a report on Tuesday, October 1st.

Institutional Investors Weigh In On Iris Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in IREN. VitalStone Financial LLC lifted its stake in shares of Iris Energy by 373.9% in the first quarter. VitalStone Financial LLC now owns 13,980 shares of the company’s stock worth $71,000 after buying an additional 11,030 shares in the last quarter. CCG Wealth Management LLC purchased a new position in Iris Energy in the 1st quarter worth approximately $72,000. AFG Fiduciary Services Limited Partnership acquired a new position in shares of Iris Energy during the 3rd quarter worth approximately $77,000. Bluefin Capital Management LLC acquired a new position in shares of Iris Energy during the 2nd quarter worth approximately $113,000. Finally, PEAK6 Investments LLC purchased a new stake in shares of Iris Energy in the first quarter valued at approximately $133,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

Iris Energy Stock Up 6.0 %

IREN stock opened at $9.49 on Friday. Iris Energy has a 12 month low of $2.79 and a 12 month high of $15.75. The firm’s fifty day simple moving average is $7.96 and its 200-day simple moving average is $8.45.

About Iris Energy

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