Iris Energy’s (IREN) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Iris Energy (NASDAQ:IRENGet Free Report)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a note issued to investors on Wednesday, Benzinga reports. They currently have a $20.00 target price on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 89.21% from the company’s current price.

A number of other analysts also recently weighed in on the stock. Sanford C. Bernstein began coverage on shares of Iris Energy in a research report on Wednesday, July 10th. They set an “outperform” rating and a $26.00 price target for the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Iris Energy in a report on Thursday, August 29th. Roth Capital raised shares of Iris Energy to a “strong-buy” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. decreased their price objective on shares of Iris Energy from $11.00 to $9.50 and set an “overweight” rating for the company in a report on Friday, August 23rd. Finally, Needham & Company LLC began coverage on shares of Iris Energy in a report on Wednesday, September 4th. They issued a “hold” rating for the company. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $15.44.

Check Out Our Latest Stock Report on IREN

Iris Energy Stock Up 0.2 %

Shares of IREN stock traded up $0.02 during mid-day trading on Wednesday, reaching $10.57. 9,036,782 shares of the company were exchanged, compared to its average volume of 12,951,456. Iris Energy has a fifty-two week low of $2.79 and a fifty-two week high of $15.75. The business’s 50 day simple moving average is $8.23 and its 200 day simple moving average is $8.69.

Institutional Investors Weigh In On Iris Energy

Several institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP lifted its holdings in Iris Energy by 33.6% in the second quarter. Marshall Wace LLP now owns 3,811,780 shares of the company’s stock worth $43,035,000 after purchasing an additional 958,494 shares during the period. Vident Advisory LLC lifted its holdings in Iris Energy by 58.0% in the first quarter. Vident Advisory LLC now owns 1,954,998 shares of the company’s stock worth $10,557,000 after purchasing an additional 717,843 shares during the period. Van ECK Associates Corp lifted its holdings in Iris Energy by 23.7% in the first quarter. Van ECK Associates Corp now owns 1,837,683 shares of the company’s stock worth $9,924,000 after purchasing an additional 351,774 shares during the period. D1 Capital Partners L.P. acquired a new stake in Iris Energy in the second quarter worth about $17,319,000. Finally, Hood River Capital Management LLC acquired a new stake in Iris Energy in the second quarter worth about $13,618,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

Iris Energy Company Profile

(Get Free Report)

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

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