Iris Energy’s (IREN) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Iris Energy (NASDAQ:IRENFree Report) in a research note issued to investors on Thursday, Benzinga reports. HC Wainwright currently has a $10.00 price objective on the stock.

A number of other research analysts also recently weighed in on the stock. Cantor Fitzgerald reaffirmed an overweight rating and issued a $10.00 target price on shares of Iris Energy in a research report on Thursday, March 28th. B. Riley cut their price target on shares of Iris Energy from $10.00 to $9.50 and set a buy rating for the company in a research note on Friday, March 15th. Finally, Canaccord Genuity Group increased their price target on shares of Iris Energy from $9.00 to $12.00 and gave the company a buy rating in a research note on Thursday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of Buy and an average price target of $12.50.

Read Our Latest Analysis on Iris Energy

Iris Energy Stock Up 3.3 %

Iris Energy stock opened at $6.02 on Thursday. Iris Energy has a 1-year low of $2.79 and a 1-year high of $9.69. The company has a fifty day simple moving average of $5.11 and a 200 day simple moving average of $5.23.

Iris Energy (NASDAQ:IRENGet Free Report) last released its 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, equities analysts expect that Iris Energy will post 0.03 earnings per share for the current fiscal year.

Institutional Trading of Iris Energy

A number of hedge funds have recently modified their holdings of the stock. VitalStone Financial LLC lifted its stake in shares of Iris Energy by 373.9% during the 1st quarter. VitalStone Financial LLC now owns 13,980 shares of the company’s stock worth $71,000 after buying an additional 11,030 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in shares of Iris Energy during the 4th quarter worth about $84,000. Jump Financial LLC lifted its stake in shares of Iris Energy by 33.1% during the 4th quarter. Jump Financial LLC now owns 49,400 shares of the company’s stock worth $353,000 after buying an additional 12,290 shares during the last quarter. Tucker Asset Management LLC acquired a new stake in shares of Iris Energy during the 3rd quarter worth about $47,000. Finally, CCG Wealth Management LLC acquired a new stake in Iris Energy in the 1st quarter worth about $72,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

About Iris Energy

(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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