Iris Energy Limited (NASDAQ:IREN) Short Interest Up 40.9% in December

Iris Energy Limited (NASDAQ:IREN) saw a large growth in short interest in December. As of December 15th, there was short interest totalling 14,410,000 shares, a growth of 40.9% from the November 30th total of 10,230,000 shares. Based on an average daily trading volume, of 17,540,000 shares, the short-interest ratio is presently 0.8 days. Currently, 8.0% of the company’s stock are sold short.

Iris Energy Stock Performance

Shares of IREN stock traded down $0.77 on Monday, hitting $9.94. The company had a trading volume of 11,241,107 shares, compared to its average volume of 13,730,730. Iris Energy has a twelve month low of $3.56 and a twelve month high of $15.92. The company has a 50-day moving average price of $11.41 and a 200-day moving average price of $10.24.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Roth Capital upgraded Iris Energy to a “strong-buy” rating in a research note on Tuesday, October 1st. Canaccord Genuity Group boosted their target price on shares of Iris Energy from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $15.00 price target (up previously from $9.50) on shares of Iris Energy in a report on Tuesday, December 10th. BTIG Research started coverage on shares of Iris Energy in a report on Friday, December 20th. They set a “buy” rating and a $33.00 price objective on the stock. Finally, Roth Mkm started coverage on Iris Energy in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $14.00 target price for the company. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.50.

Institutional Investors Weigh In On Iris Energy

Hedge funds have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Iris Energy by 1,521.1% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 188,051 shares of the company’s stock valued at $2,123,000 after purchasing an additional 176,451 shares in the last quarter. MKP Capital Management L.L.C. acquired a new stake in Iris Energy during the second quarter valued at $3,139,000. X Square Capital LLC purchased a new position in Iris Energy in the second quarter valued at $508,000. VitalStone Financial LLC raised its position in shares of Iris Energy by 467.1% in the second quarter. VitalStone Financial LLC now owns 79,285 shares of the company’s stock worth $895,000 after acquiring an additional 65,305 shares during the period. Finally, Central Asset Investments & Management Holdings HK Ltd purchased a new stake in shares of Iris Energy during the 2nd quarter worth about $779,000. Hedge funds and other institutional investors own 41.08% of the company’s stock.

Iris Energy Company Profile

Iris Energy Limited owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.