Iris Energy (NASDAQ:IREN) Price Target Raised to $22.00 at HC Wainwright

Iris Energy (NASDAQ:IREN) had its price target raised by HC Wainwright from $16.00 to $22.00 in a research note published on Thursday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Several other analysts have also recently issued reports on the company. JPMorgan Chase & Co. restated a “neutral” rating and issued a $15.00 target price (up from $9.50) on shares of Iris Energy in a report on Tuesday, December 10th. Canaccord Genuity Group upped their price objective on shares of Iris Energy from $15.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. BTIG Research assumed coverage on shares of Iris Energy in a research note on Friday, December 20th. They set a “buy” rating and a $33.00 target price on the stock. B. Riley increased their price target on shares of Iris Energy from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Iris Energy in a research report on Thursday. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Iris Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.70.

Iris Energy Trading Up 0.5 %

Shares of NASDAQ IREN opened at $13.08 on Thursday. Iris Energy has a 52 week low of $4.15 and a 52 week high of $15.92. The firm has a 50-day simple moving average of $11.70 and a 200-day simple moving average of $9.97.

Iris Energy (NASDAQ:IREN) last released its earnings results on Wednesday, February 12th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.13. Iris Energy had a negative net margin of 36.10% and a negative return on equity of 8.01%. Analysts anticipate that Iris Energy will post 0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Iris Energy

Institutional investors have recently modified their holdings of the company. Stonebridge Financial Group LLC purchased a new position in Iris Energy during the 4th quarter valued at about $29,000. HM Payson & Co. acquired a new stake in shares of Iris Energy during the fourth quarter worth about $30,000. R Squared Ltd purchased a new position in shares of Iris Energy in the fourth quarter valued at approximately $37,000. Covestor Ltd acquired a new position in shares of Iris Energy in the third quarter valued at approximately $87,000. Finally, Sippican Capital Advisors purchased a new stake in Iris Energy during the 3rd quarter worth approximately $94,000. 41.08% of the stock is owned by institutional investors and hedge funds.

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.