Iris Energy (NASDAQ:IREN) Earns “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Iris Energy (NASDAQ:IREN) in a research report released on Thursday morning, Benzinga reports. The firm currently has a $20.00 target price on the stock.

A number of other research firms have also weighed in on IREN. HC Wainwright cut their price objective on shares of Iris Energy from $15.00 to $13.00 and set a buy rating on the stock in a research note on Thursday, August 29th. Macquarie raised their price target 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. B. Riley dropped 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 report on Friday, September 13th. Sanford C. Bernstein initiated coverage on shares of Iris Energy in a research report on Wednesday, July 10th. They set an outperform rating and a $26.00 price target on the stock. Finally, Canaccord Genuity Group reaffirmed a buy rating and set a $15.00 price objective on shares of Iris Energy in a report on Thursday, August 29th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Buy and a consensus price target of $15.44.

Iris Energy Trading Up 10.7 %

NASDAQ:IREN opened at $8.68 on Thursday. Iris Energy has a 1-year low of $2.79 and a 1-year high of $15.75. The company’s fifty day moving average price is $7.98 and its 200-day moving average price is $8.27.

Hedge Funds Weigh In On Iris Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. Bluefin Capital Management LLC purchased a new position in shares of Iris Energy in the second quarter worth about $113,000. Seven Eight Capital LP acquired a new position in shares of Iris Energy in the second quarter valued at approximately $146,000. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Iris Energy in the second quarter valued at approximately $149,000. CCG Wealth Management LLC purchased a new position in Iris Energy in the first quarter worth approximately $72,000. Finally, VitalStone Financial LLC lifted its stake in Iris Energy by 373.9% in the first quarter. VitalStone Financial LLC now owns 13,980 shares of the company’s stock worth $71,000 after acquiring an additional 11,030 shares during the last quarter. 41.08% of the stock is owned by hedge funds and other institutional investors.

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.