Analysts Set Iris Energy Limited (NASDAQ:IREN) PT at $19.50

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

A number of equities research analysts have commented on IREN shares. Needham & Company LLC reissued a “hold” rating on shares of Iris Energy in a report on Wednesday, November 27th. Canaccord Genuity Group upped their price target on Iris Energy from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. B. Riley lifted their price objective on shares of Iris Energy from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Roth Capital upgraded shares of Iris Energy to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, Macquarie lifted their price target on shares of Iris Energy from $13.50 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th.

Iris Energy Stock Performance

Shares of IREN stock opened at $11.34 on Wednesday. Iris Energy has a one year low of $3.56 and a one year high of $15.92. The company’s fifty day moving average price is $11.52 and its 200-day moving average price is $10.12.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IREN. Truist Financial Corp raised its position in Iris Energy by 3.2% during the second quarter. Truist Financial Corp now owns 51,575 shares of the company’s stock valued at $582,000 after purchasing an additional 1,575 shares during the period. Chesapeake Capital Corp IL raised its holdings in Iris Energy by 27.9% during the 3rd quarter. Chesapeake Capital Corp IL now owns 17,695 shares of the company’s stock valued at $157,000 after buying an additional 3,861 shares during the period. Chicago Partners Investment Group LLC lifted its position in Iris Energy by 13.2% in the third quarter. Chicago Partners Investment Group LLC now owns 54,515 shares of the company’s stock worth $473,000 after buying an additional 6,347 shares during the last quarter. Wellington Management Group LLP boosted its stake in Iris Energy by 28.3% during the third quarter. Wellington Management Group LLP now owns 36,651 shares of the company’s stock worth $309,000 after buying an additional 8,092 shares during the period. Finally, Bluefin Capital Management LLC purchased a new stake in shares of Iris Energy in the second quarter valued at $113,000. Institutional investors own 41.08% of the company’s stock.

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.