Iris Energy (NASDAQ:IREN – Free Report) had its price objective boosted by JPMorgan Chase & Co. from $10.00 to $11.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.
Other equities research analysts have also recently issued reports about the stock. B. Riley dropped their target price on shares of Iris Energy from $10.00 to $9.50 and set a buy rating for the company in a research report on Friday, March 15th. HC Wainwright reiterated a buy rating and set a $10.00 target price on shares of Iris Energy in a report on Thursday, May 16th. Canaccord Genuity Group increased their target price on Iris Energy from $9.00 to $12.00 and gave the stock a buy rating in a research report on Thursday, May 16th. Finally, Cantor Fitzgerald restated an overweight rating and set a $10.00 price target on shares of Iris Energy in a research report on Thursday, March 28th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of Buy and an average target price of $12.75.
Check Out Our Latest Report on IREN
Iris Energy Price Performance
IREN opened at $8.89 on Tuesday. The stock’s 50 day moving average price is $5.67 and its 200-day moving average price is $5.57. Iris Energy has a 52-week low of $2.79 and a 52-week high of $9.69.
Hedge Funds Weigh In On Iris Energy
Several large investors have recently made changes to their positions in the business. Tucker Asset Management LLC purchased a new stake in shares of Iris Energy in the 3rd quarter worth approximately $47,000. VitalStone Financial LLC boosted its holdings in 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 acquiring an additional 11,030 shares in the last quarter. CCG Wealth Management LLC bought a new position in shares of Iris Energy during the first quarter valued at $72,000. Counterpoint Mutual Funds LLC purchased a new position in shares of Iris Energy in the 4th quarter worth about $84,000. Finally, PEAK6 Investments LLC bought a new position in Iris Energy in the 1st quarter worth about $133,000. 41.08% of the stock is currently owned by hedge funds and other institutional investors.
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.
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Source: defenseworld.net
