Iris Energy (NASDAQ:IREN) Receives Buy Rating from HC Wainwright

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

A number of other equities analysts have also commented on the stock. Canaccord Genuity Group reiterated a buy rating and set a $9.00 price target on shares of Iris Energy in a report on Thursday, March 28th. JPMorgan Chase & Co. upped their target price on Iris Energy from $9.00 to $9.50 and gave the company an overweight rating in a report on Friday, December 8th. B. Riley dropped their price target on shares of Iris Energy from $10.00 to $9.50 and set a buy rating on the stock in a research report on Friday, March 15th. Finally, Cantor Fitzgerald reissued an overweight rating and set a $10.00 target price on shares of Iris Energy in a research note on Thursday, March 28th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Iris Energy has an average rating of Buy and an average price target of $12.00.

Read Our Latest Analysis on IREN

Iris Energy Stock Performance

Shares of IREN opened at $5.89 on Tuesday. The company’s fifty day simple moving average is $5.46 and its 200 day simple moving average is $4.86. Iris Energy has a 1-year low of $2.70 and a 1-year high of $9.69.

Iris Energy (NASDAQ:IRENGet Free Report) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter. The firm had revenue of $42.57 million during the quarter, compared to the consensus estimate of $37.58 million. Equities analysts forecast that Iris Energy will post -0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Iris Energy

A number of institutional investors have recently modified their holdings of IREN. Van ECK Associates Corp raised its stake in shares of Iris Energy by 32.9% in the fourth quarter. Van ECK Associates Corp now owns 1,485,909 shares of the company’s stock worth $10,624,000 after purchasing an additional 368,140 shares during the last quarter. Regal Partners Ltd boosted its stake in shares of Iris Energy by 19.8% in the 2nd 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 last quarter. Vident Advisory LLC increased its position in shares of Iris Energy by 110.5% during the fourth quarter. Vident Advisory LLC now owns 1,237,155 shares of the company’s stock valued at $8,846,000 after acquiring an additional 649,411 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 period. Finally, Goldman Sachs Group Inc. grew its stake in Iris Energy by 2.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 652,265 shares of the company’s stock valued at $10,221,000 after purchasing an additional 14,735 shares during the period. 41.08% of the stock is owned by institutional investors and hedge funds.

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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