Iris Energy (NASDAQ:IREN) Now Covered by Roth Mkm

Roth Mkm initiated coverage on shares of Iris Energy (NASDAQ:IREN) in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $14.00 target price on the stock.

A number of other brokerages have also recently weighed in on IREN. Macquarie upped their price target on shares of Iris Energy from $12.00 to $13.50 and gave the stock an outperform rating in a research report on Friday, August 30th. JPMorgan Chase & Co. lowered their target price on Iris Energy from $11.00 to $9.50 and set an overweight rating for the company in a research note on Friday, August 23rd. Cantor Fitzgerald dropped their target price on Iris Energy from $23.00 to $20.00 and set an overweight rating on the stock in a report on Thursday, August 29th. Canaccord Genuity Group restated a buy rating and issued a $15.00 price target on shares of Iris Energy in a report on Thursday, August 29th. Finally, Sanford C. Bernstein initiated coverage on shares of Iris Energy in a research note on Wednesday, July 10th. They set an outperform rating and a $26.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of $15.44.

Iris Energy Trading Up 10.7 %

IREN opened at $8.68 on Wednesday. Iris Energy has a 52-week low of $2.79 and a 52-week high of $15.75. The company has a 50 day moving average of $7.98 and a two-hundred day moving average of $8.25.

Institutional Investors Weigh In On Iris Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. VitalStone Financial LLC increased its stake in shares of Iris Energy by 373.9% in the first quarter. VitalStone Financial LLC now owns 13,980 shares of the company’s stock worth $71,000 after buying an additional 11,030 shares during the last quarter. CCG Wealth Management LLC bought a new stake in shares of Iris Energy in the 1st quarter worth about $72,000. Bluefin Capital Management LLC acquired a new stake in shares of Iris Energy in the 2nd quarter valued at about $113,000. PEAK6 Investments LLC acquired a new stake in shares of Iris Energy in the 1st quarter valued at about $133,000. Finally, Seven Eight Capital LP bought a new position in shares of Iris Energy during the second quarter worth about $146,000. 41.08% of the stock is currently owned by hedge funds and other institutional investors.

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.