Shares of Iris Energy Limited (NASDAQ:IREN – Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $7.74, but opened at $8.11. Iris Energy shares last traded at $8.10, with a volume of 2,643,457 shares trading hands.
Analyst Upgrades and Downgrades
IREN has been the subject of several research analyst reports. Needham & Company LLC started coverage on shares of Iris Energy in a research report on Wednesday, September 4th. They issued a “hold” rating for the company. HC Wainwright decreased their target price on Iris Energy from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Roth Capital raised Iris Energy to a “strong-buy” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. decreased their price objective on Iris Energy from $11.00 to $9.50 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $20.00 target price on shares of Iris Energy in a report on Thursday, October 3rd. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $15.44.
View Our Latest Report on IREN
Iris Energy Stock Up 6.6 %
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the business. Creative Planning raised its position in Iris Energy by 71.2% in the 3rd quarter. Creative Planning now owns 457,625 shares of the company’s stock valued at $3,862,000 after purchasing an additional 190,300 shares during the last quarter. VitalStone Financial LLC increased its stake in shares of Iris Energy by 95.1% in the third quarter. VitalStone Financial LLC now owns 154,681 shares of the company’s stock valued at $1,306,000 after buying an additional 75,396 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Iris Energy by 23.7% in the third quarter. Exchange Traded Concepts LLC now owns 713,635 shares of the company’s stock valued at $6,023,000 after buying an additional 136,643 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Iris Energy during the 2nd quarter worth about $203,000. Finally, Bluefin Capital Management LLC bought a new stake in Iris Energy during the 2nd quarter worth about $113,000. 41.08% of the stock is owned by institutional investors and hedge funds.
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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