Canaccord Genuity Group Raises Iris Energy (NASDAQ:IREN) Price Target to $12.00

Iris Energy (NASDAQ:IRENFree Report) had its price target increased by Canaccord Genuity Group from $9.00 to $12.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently weighed in on the stock. B. Riley cut their price target on shares of Iris Energy from $10.00 to $9.50 and set a buy rating on the stock in a report on Friday, March 15th. Cantor Fitzgerald restated an overweight rating and set a $10.00 target price on shares of Iris Energy in a report on Thursday, March 28th. Finally, HC Wainwright restated a buy rating and set a $10.00 target price on shares of Iris Energy in a report on Tuesday, April 2nd. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of Buy and a consensus target price of $12.50.

Read Our Latest Stock Analysis on IREN

Iris Energy Trading Up 3.3 %

NASDAQ:IREN opened at $6.02 on Thursday. The firm’s fifty day simple moving average is $5.11 and its 200 day simple moving average is $5.23. Iris Energy has a twelve month low of $2.79 and a twelve month high of $9.69.

Iris Energy (NASDAQ:IRENGet Free Report) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter. The company had revenue of $42.57 million for the quarter, compared to analyst estimates of $37.58 million. On average, analysts expect that Iris Energy will post 0.03 EPS for the current year.

Institutional Trading of Iris Energy

A number of hedge funds have recently modified their holdings of the business. Tucker Asset Management LLC bought a new position in Iris Energy in the 3rd quarter worth about $47,000. VitalStone Financial LLC boosted its stake in Iris Energy by 373.9% in the 1st quarter. VitalStone Financial LLC now owns 13,980 shares of the company’s stock worth $71,000 after purchasing an additional 11,030 shares in the last quarter. CCG Wealth Management LLC bought a new position in Iris Energy in the 1st quarter worth about $72,000. Counterpoint Mutual Funds LLC bought a new position in 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. Institutional investors 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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Analyst Recommendations for Iris Energy (NASDAQ:IREN)

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