Iris Energy (NASDAQ:IREN) Price Target Raised to $17.00

Iris Energy (NASDAQ:IREN) had its price target raised by Canaccord Genuity Group from $15.00 to $17.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also issued reports on IREN. Needham & Company LLC reiterated a “hold” rating on shares of Iris Energy in a research report on Wednesday. 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 report on Friday, August 23rd. Macquarie boosted their price objective on shares of Iris Energy from $12.00 to $13.50 and gave the company an “outperform” rating in a research report on Friday, August 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $20.00 target price on shares of Iris Energy in a report on Wednesday, October 30th. Finally, Roth Capital raised Iris Energy to a “strong-buy” rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Iris Energy presently has a consensus rating of “Buy” and a consensus target price of $16.33.

Iris Energy Trading Up 9.0 %

IREN stock opened at $13.51 on Wednesday. Iris Energy has a 1-year low of $3.56 and a 1-year high of $15.75. The business’s 50-day moving average price is $9.51 and its two-hundred day moving average price is $9.50.

Institutional Investors Weigh In On Iris Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Truist Financial Corp increased its holdings in Iris Energy by 3.2% during the second quarter. Truist Financial Corp now owns 51,575 shares of the company’s stock worth $582,000 after buying an additional 1,575 shares during the last quarter. Chesapeake Capital Corp IL raised its holdings in shares of Iris Energy by 27.9% in the 3rd quarter. Chesapeake Capital Corp IL now owns 17,695 shares of the company’s stock valued at $157,000 after purchasing an additional 3,861 shares during the period. Chicago Partners Investment Group LLC lifted its stake in Iris Energy by 13.2% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 54,515 shares of the company’s stock valued at $473,000 after purchasing an additional 6,347 shares during the last quarter. Wellington Management Group LLP grew its holdings in Iris Energy by 28.3% during the third quarter. Wellington Management Group LLP now owns 36,651 shares of the company’s stock worth $309,000 after purchasing an additional 8,092 shares during the period. Finally, Bluefin Capital Management LLC acquired a new position in Iris Energy during the second quarter worth approximately $113,000. 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.