Iris Energy (NASDAQ:IREN – Get Free Report)‘s stock had its “buy” rating reaffirmed by equities researchers at Canaccord Genuity Group in a research note issued on Thursday, Benzinga reports. They presently have a $9.00 target price on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 66.36% from the company’s current price.
Several other analysts also recently weighed in on IREN. JPMorgan Chase & Co. lifted their price target on shares of Iris Energy from $9.00 to $9.50 and gave the company an “overweight” rating in a research note on Friday, December 8th. B. Riley dropped their price objective on shares of Iris Energy from $10.00 to $9.50 and set a “buy” rating on the stock in a research note on Friday, March 15th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Iris Energy in a report on Thursday. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $12.00.
View Our Latest Analysis on Iris Energy
Iris Energy Stock Performance
Iris Energy (NASDAQ:IREN – Get Free Report) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter. The firm had revenue of $42.57 million during the quarter, compared to analysts’ expectations of $37.58 million. Research analysts predict that Iris Energy will post -0.01 EPS for the current year.
Institutional Investors Weigh In On Iris Energy
A number of hedge funds and other institutional investors have recently made changes to their positions in IREN. Portolan Capital Management LLC acquired a new position in shares of Iris Energy during the second quarter valued at approximately $6,102,000. Vident Advisory LLC increased its stake in shares of Iris Energy by 110.5% in the 4th quarter. Vident Advisory LLC now owns 1,237,155 shares of the company’s stock worth $8,846,000 after acquiring an additional 649,411 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Iris Energy by 32.9% in the 4th quarter. Van ECK Associates Corp now owns 1,485,909 shares of the company’s stock valued at $10,624,000 after purchasing an additional 368,140 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Iris Energy by 52.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,037,420 shares of the company’s stock worth $7,418,000 after acquiring an additional 356,752 shares during the last quarter. Finally, Regal Partners Ltd boosted its stake in Iris Energy by 19.8% during the second quarter. Regal Partners Ltd now owns 1,420,633 shares of the company’s stock worth $6,620,000 after buying an additional 235,027 shares during the period. Institutional investors and hedge funds own 41.08% of the company’s stock.
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.
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