Analysts Set Iris Energy Limited (NASDAQ:IREN) PT at $15.44

Iris Energy Limited (NASDAQ:IREN) has earned an average recommendation of “Buy” from the eleven research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $15.44.

IREN has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their target price 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 decreased their price target on shares of Iris Energy from $17.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, September 13th. HC Wainwright decreased their price target on shares of Iris Energy from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $20.00 price target on shares of Iris Energy in a research note on Wednesday, October 30th. Finally, Roth Mkm initiated coverage on shares of Iris Energy in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $14.00 price target for the company.

Iris Energy Price Performance

Shares of NASDAQ IREN opened at $10.33 on Tuesday. Iris Energy has a twelve month low of $2.79 and a twelve month high of $15.75. The firm has a fifty day simple moving average of $8.87 and a 200 day simple moving average of $9.10.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of IREN. D1 Capital Partners L.P. bought a new position in shares of Iris Energy during the 2nd quarter valued at approximately $17,319,000. Hood River Capital Management LLC bought a new position in shares of Iris Energy during the 2nd quarter valued at approximately $13,618,000. Marshall Wace LLP lifted its stake in shares of Iris Energy by 33.6% during the 2nd quarter. Marshall Wace LLP now owns 3,811,780 shares of the company’s stock valued at $43,035,000 after buying an additional 958,494 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Iris Energy during the 2nd quarter valued at approximately $9,969,000. Finally, Vident Advisory LLC lifted its stake in shares of Iris Energy by 58.0% during the 1st quarter. Vident Advisory LLC now owns 1,954,998 shares of the company’s stock valued at $10,557,000 after buying an additional 717,843 shares in the last quarter. 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.