Iris Energy Limited (NASDAQ:IREN - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $10.46, but opened at $11.15. Iris Energy shares last traded at $11.22, with a volume of 1,799,005 shares.
A number of research firms have recently weighed in on IREN. Cantor Fitzgerald upped their price target on shares of Iris Energy from $20.00 to $23.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 27th. B. Riley upped their price objective on Iris Energy from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. HC Wainwright increased their price target on Iris Energy from $13.00 to $16.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. Macquarie increased their price objective on shares of Iris Energy from $13.50 to $19.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Finally, Roth Mkm assumed coverage on Iris Energy in a research report on Wednesday, October 2nd. They set a "buy" rating and a $14.00 price target for the company. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $19.50.
Get Our Latest Stock Analysis on IREN
The firm's 50 day moving average price is $11.62 and its 200-day moving average price is $10.05.
Institutional investors have recently added to or reduced their stakes in the stock. Harbour Capital Advisors LLC bought a new position in Iris Energy during the fourth quarter worth about $282,000. Geode Capital Management LLC boosted its stake in shares of Iris Energy by 56.3% during the third quarter. Geode Capital Management LLC now owns 735,071 shares of the company's stock valued at $6,204,000 after purchasing an additional 264,883 shares in the last quarter. Sender Co & Partners Inc. acquired a new position in shares of Iris Energy during the third quarter worth $561,000. Continuum Advisory LLC acquired a new stake in shares of Iris Energy in the third quarter valued at about $430,000. Finally, Y Intercept Hong Kong Ltd raised its holdings in Iris Energy by 592.2% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 206,706 shares of the company's stock worth $1,745,000 after purchasing an additional 176,843 shares during the last quarter. 41.08% of the stock is owned by institutional investors.
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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