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

Shares of Iris Energy Limited (NASDAQ:IREN) have been assigned an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $19.50.

Several equities research analysts have weighed in on the company. Macquarie increased their price target on Iris Energy from $13.50 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. HC Wainwright raised their target price on Iris Energy from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. BTIG Research began coverage on Iris Energy in a research report on Friday, December 20th. They set a “buy” rating and a $33.00 price target for the company. JPMorgan Chase & Co. restated a “neutral” rating and issued a $15.00 price objective (up previously from $9.50) on shares of Iris Energy in a research report on Tuesday, December 10th. Finally, B. Riley lifted their target price on shares of Iris Energy from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, December 19th.

Institutional Trading of Iris Energy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. R Squared Ltd acquired a new stake in Iris Energy in the 4th quarter worth about $37,000. AFG Fiduciary Services Limited Partnership acquired a new stake in shares of Iris Energy in the third quarter worth approximately $77,000. Bluefin Capital Management LLC purchased a new stake in shares of Iris Energy during the second quarter worth approximately $113,000. Covestor Ltd acquired a new position in Iris Energy in the 3rd quarter valued at $87,000. Finally, Sippican Capital Advisors purchased a new position in Iris Energy in the 3rd quarter valued at $94,000. Hedge funds and other institutional investors own 41.08% of the company’s stock.

Iris Energy Trading Up 8.5 %

Shares of NASDAQ IREN opened at $13.32 on Friday. Iris Energy has a 52 week low of $3.56 and a 52 week high of $15.92. The business’s 50 day moving average price is $11.80 and its 200 day moving average price is $9.94.

Iris Energy (NASDAQ:IREN) last released its quarterly earnings data on Tuesday, November 26th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.11). Iris Energy had a negative net margin of 36.10% and a negative return on equity of 8.01%. On average, sell-side analysts expect that Iris Energy will post 0.12 EPS for the current fiscal year.

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.