Iris Energy (NASDAQ:IREN – Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.13, Zacks reports. Iris Energy had a negative return on equity of 8.01% and a negative net margin of 36.10%.
Iris Energy Stock Performance
Iris Energy stock traded down $0.45 during midday trading on Thursday, reaching $12.56. 4,957,090 shares of the stock traded hands, compared to its average volume of 16,095,695. The company has a 50-day simple moving average of $11.72 and a two-hundred day simple moving average of $9.95. Iris Energy has a 12-month low of $4.15 and a 12-month high of $15.92.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on IREN shares. Needham & Company LLC reissued a “hold” rating on shares of Iris Energy in a research note on Thursday. Cantor Fitzgerald increased their price objective on shares of Iris Energy from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. BTIG Research initiated coverage on Iris Energy in a report on Friday, December 20th. They set a “buy” rating and a $33.00 target price on the stock. B. Riley upped their price target on Iris Energy from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $15.00 price objective (up previously from $9.50) on shares of Iris Energy in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.70.
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.
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