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

Shares of Iris Energy Limited (NASDAQ:IREN) have earned an average rating of “Moderate Buy” from the twelve research firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $20.70.

Several brokerages recently commented on IREN. HC Wainwright boosted their price target on Iris Energy from $16.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Canaccord Genuity Group boosted their price target on Iris Energy from $17.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Macquarie boosted 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. Needham & Company LLC reissued a “hold” rating on shares of Iris Energy in a research note on Thursday, February 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $23.00 price objective on shares of Iris Energy in a research note on Thursday, February 13th.

Hedge Funds Weigh In On Iris Energy

Several hedge funds have recently bought and sold shares of IREN. Stonebridge Financial Group LLC acquired a new position in Iris Energy during the 4th quarter worth about $29,000. HM Payson & Co. acquired a new position in Iris Energy during the 4th quarter worth about $30,000. R Squared Ltd acquired a new position in Iris Energy during the 4th quarter worth about $37,000. Main Management LLC purchased a new stake in Iris Energy during the 4th quarter worth about $49,000. Finally, Tower Research Capital LLC TRC increased its holdings in Iris Energy by 1,059.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,368 shares of the company’s stock worth $82,000 after purchasing an additional 7,646 shares during the period. Institutional investors and hedge funds own 41.08% of the company’s stock.

Iris Energy Stock Performance

Iris Energy stock opened at $8.49 on Thursday. Iris Energy has a 12 month low of $4.15 and a 12 month high of $15.92. The business has a 50 day simple moving average of $11.29 and a 200-day simple moving average of $10.16.

Iris Energy (NASDAQ:IREN) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.13. Iris Energy had a negative return on equity of 3.98% and a negative net margin of 17.94%. As a group, research analysts anticipate that Iris Energy will post 0.43 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.