Iris Energy (NASDAQ:IREN) Research Coverage Started at Roth Mkm

by · The Cerbat Gem

Roth Mkm initiated coverage on shares of Iris Energy (NASDAQ:IREN – Free Report) in a research note released on Wednesday morning, MarketBeat.com reports. The firm issued a buy rating and a $14.00 price objective on the stock.

Several other research analysts have also commented on IREN. Sanford C. Bernstein started coverage on Iris Energy in a research report on Wednesday, July 10th. They set an outperform rating and a $26.00 price target for the company. Needham & Company LLC initiated coverage on Iris Energy in a report on Wednesday, September 4th. They set a hold rating for the company. B. Riley cut their price target on shares of Iris Energy from $17.00 to $12.00 and set a buy rating on the stock in a research note on Friday, September 13th. JPMorgan Chase & Co. lowered their price objective on shares of Iris Energy from $11.00 to $9.50 and set an overweight rating for the company in a research note on Friday, August 23rd. Finally, Cantor Fitzgerald cut their target price on shares of Iris Energy from $23.00 to $20.00 and set an overweight rating on the stock in a research note on Thursday, August 29th. One equities research 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 presently has an average rating of Buy and a consensus target price of $15.44.

View Our Latest Stock Report on IREN

Iris Energy Stock Up 10.7 %

NASDAQ:IREN opened at $8.68 on Wednesday. Iris Energy has a fifty-two week low of $2.79 and a fifty-two week high of $15.75. The company has a 50 day moving average price of $7.98 and a 200 day moving average price of $8.23.

Hedge Funds Weigh In On Iris Energy

Several large investors have recently bought and sold shares of IREN. Russell Investments Group Ltd. acquired a new position in shares of Iris Energy during the 1st quarter worth about $893,000. Central Asset Investments & Management Holdings HK Ltd acquired a new position in Iris Energy in the second quarter valued at approximately $779,000. Quadrature Capital Ltd purchased a new position in Iris Energy in the fourth quarter valued at approximately $1,655,000. Daiwa Securities Group Inc. acquired a new stake in Iris Energy during the first quarter worth approximately $446,000. Finally, Van ECK Associates Corp raised its holdings in Iris Energy by 23.7% during the first quarter. Van ECK Associates Corp now owns 1,837,683 shares of the company’s stock worth $9,924,000 after purchasing an additional 351,774 shares in the last quarter. Hedge funds and other institutional investors own 41.08% of the company’s stock.

Iris Energy Company Profile

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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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