Iris Energy (NASDAQ:IREN) Trading Up 9.3%

Shares of Iris Energy Limited (NASDAQ:IREN) traded up 9.3% during trading on Tuesday . The stock traded as high as $13.81 and last traded at $13.79. 7,515,019 shares changed hands during trading, a decline of 32% from the average session volume of 11,008,062 shares. The stock had previously closed at $12.62.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Cantor Fitzgerald upgraded shares of Iris Energy to a “strong-buy” rating in a report on Wednesday, June 12th. Canaccord Genuity Group boosted their target price on Iris Energy from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. JPMorgan Chase & Co. raised their price target on shares of Iris Energy from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 4th. HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Iris Energy in a research report on Thursday, May 16th. Finally, B. Riley increased their target price on shares of Iris Energy from $9.50 to $18.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Iris Energy has an average rating of “Buy” and a consensus target price of $16.33.

Iris Energy Trading Up 9.3 %

The firm has a 50-day moving average of $8.48 and a 200 day moving average of $6.65.

Iris Energy (NASDAQ:IREN) last announced its quarterly earnings data on Wednesday, May 15th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.04). The firm had revenue of $54.35 million for the quarter, compared to the consensus estimate of $58.41 million. Equities analysts predict that Iris Energy Limited will post 0.01 EPS for the current fiscal year.

Institutional Trading of Iris Energy

Several institutional investors and hedge funds have recently bought and sold shares of the business. Tucker Asset Management LLC bought a new stake in Iris Energy in the 3rd quarter valued at $47,000. VitalStone Financial LLC boosted its holdings 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 period. CCG Wealth Management LLC acquired a new position in Iris Energy in the 1st quarter valued at about $72,000. Counterpoint Mutual Funds LLC bought a new position in Iris Energy in the 4th quarter valued at about $84,000. Finally, PEAK6 Investments LLC acquired a new stake in Iris Energy during the first quarter worth approximately $133,000. Institutional investors own 41.08% of the company’s stock.

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.