Canaccord Genuity Group Increases Iris Energy (NASDAQ:IREN) Price Target to $17.00

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

Other equities analysts have also issued reports about the company. Macquarie upped their target price on Iris Energy from $12.00 to $13.50 and gave the company an “outperform” rating in a report on Friday, August 30th. B. Riley lowered their price objective on Iris Energy from $17.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Compass Point cut their target price on Iris Energy from $18.50 to $16.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. HC Wainwright upped their price target on shares of Iris Energy from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Roth Capital raised shares of Iris Energy to a “strong-buy” rating in a report 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 data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $16.33.

Iris Energy Stock Up 29.7 %

NASDAQ IREN opened at $12.40 on Wednesday. Iris Energy has a one year low of $3.56 and a one year high of $15.75. The company has a 50-day simple moving average of $9.32 and a 200-day simple moving average of $9.46.

Institutional Trading of Iris Energy

A number of institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in Iris Energy by 56.3% during the third quarter. Geode Capital Management LLC now owns 735,071 shares of the company’s stock worth $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 3rd quarter valued at $561,000. Continuum Advisory LLC acquired a new position in shares of Iris Energy during the 3rd quarter valued at $430,000. Y Intercept Hong Kong Ltd lifted its holdings in shares of Iris Energy by 592.2% in the third quarter. Y Intercept Hong Kong Ltd now owns 206,706 shares of the company’s stock valued at $1,745,000 after buying an additional 176,843 shares during the period. Finally, Main Management ETF Advisors LLC acquired a new stake in shares of Iris Energy in the third quarter valued at $760,000. 41.08% of the stock is owned by institutional investors and hedge funds.

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.