Iris Energy (NASDAQ:IREN) Price Target Raised to $22.00

Iris Energy (NASDAQ:IREN) had its target price boosted by HC Wainwright from $16.00 to $22.00 in a report released on Thursday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

IREN has been the subject of a number of other reports. Cantor Fitzgerald upped their target price on Iris Energy from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Iris Energy in a research report on Thursday. B. Riley raised their target price on shares of Iris Energy from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Canaccord Genuity Group upped their price target on shares of Iris Energy from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, Macquarie lifted their price objective on shares of Iris Energy from $13.50 to $19.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.70.

Iris Energy Stock Down 0.5 %

NASDAQ:IREN opened at $13.01 on Thursday. Iris Energy has a 52 week low of $4.15 and a 52 week high of $15.92. The firm’s 50-day simple moving average is $11.65 and its 200 day simple moving average is $9.99.

Iris Energy (NASDAQ:IREN) last announced its earnings results on Wednesday, February 12th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.13. Iris Energy had a negative net margin of 36.10% and a negative return on equity of 8.01%. Research analysts expect that Iris Energy will post 0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. AQR Arbitrage LLC acquired a new position in Iris Energy in the 4th quarter worth about $987,000. Appian Way Asset Management LP bought a new stake in shares of Iris Energy during the fourth quarter worth about $859,000. Regal Partners Ltd increased its stake in shares of Iris Energy by 93.9% in the fourth quarter. Regal Partners Ltd now owns 1,697,554 shares of the company’s stock valued at $16,670,000 after buying an additional 822,251 shares during the period. Soros Fund Management LLC bought a new position in Iris Energy in the 4th quarter valued at approximately $2,278,000. Finally, Paloma Partners Management Co boosted its position in Iris Energy by 67.5% during the 4th quarter. Paloma Partners Management Co now owns 543,440 shares of the company’s stock worth $5,337,000 after buying an additional 218,940 shares during the period. 41.08% of the stock is currently 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.