Iris Energy Limited (NASDAQ:IREN) Given Average Rating of “Moderate Buy” by Brokerages

Iris Energy Limited (NASDAQ:IRENGet Rating) has been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $7.01.

Several equities analysts have recently weighed in on the stock. HC Wainwright upgraded shares of Iris Energy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $3.00 to $8.00 in a report on Thursday, February 16th. Cantor Fitzgerald lowered shares of Iris Energy from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $7.00 to $3.00 in a report on Tuesday, November 8th. Finally, Canaccord Genuity Group dropped their price objective on shares of Iris Energy from $14.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, February 17th.

Iris Energy Trading Up 4.6 %

Shares of NASDAQ IREN opened at $2.62 on Friday. The firm’s 50-day moving average price is $2.16 and its 200-day moving average price is $2.80. Iris Energy has a 1-year low of $1.02 and a 1-year high of $17.97.

Institutional Investors Weigh In On Iris Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC increased its stake in Iris Energy by 18.3% in the 4th quarter. Millennium Management LLC now owns 190,546 shares of the company’s stock valued at $238,000 after buying an additional 29,422 shares during the last quarter. Vident Investment Advisory LLC increased its stake in Iris Energy by 16.2% in the 4th quarter. Vident Investment Advisory LLC now owns 333,000 shares of the company’s stock valued at $416,000 after buying an additional 46,351 shares during the last quarter. Penserra Capital Management LLC increased its stake in Iris Energy by 42.7% in the 4th quarter. Penserra Capital Management LLC now owns 46,371 shares of the company’s stock valued at $57,000 after buying an additional 13,885 shares during the last quarter. Barclays PLC purchased a new stake in Iris Energy in the 4th quarter valued at about $248,000. Finally, Renaissance Technologies LLC increased its stake in Iris Energy by 548.3% in the 4th quarter. Renaissance Technologies LLC now owns 150,400 shares of the company’s stock valued at $188,000 after buying an additional 127,200 shares during the last quarter. Institutional investors and hedge funds own 14.88% of the company’s stock.

Iris Energy Company Profile

(Get Rating)

Iris Energy Limited owns and operates bitcoin mining data centers in Canada, the United States, and the Asia-Pacific. The company was incorporated in 2018 and is headquartered in Sydney, Australia.

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Analyst Recommendations for Iris Energy (NASDAQ:IREN)

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