Iris Energy (NASDAQ:IREN) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Iris Energy (NASDAQ:IRENFree Report) in a report released on Tuesday morning, Marketbeat.com reports. The brokerage currently has a $23.00 price target on the stock.

Other analysts have also issued research reports about the stock. Canaccord Genuity Group lifted their price objective on shares of Iris Energy from $9.00 to $12.00 and gave the company a buy rating in a research note on Thursday, May 16th. HC Wainwright reiterated a buy rating and issued a $10.00 price objective on shares of Iris Energy in a report on Thursday, May 16th. B. Riley decreased their price objective on shares of Iris Energy from $10.00 to $9.50 and set a buy rating for the company in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. lifted their target price on Iris Energy from $10.00 to $11.00 and gave the stock an overweight rating in a research report on Tuesday, June 4th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Iris Energy presently has a consensus rating of Buy and a consensus target price of $14.92.

Get Our Latest Stock Analysis on Iris Energy

Iris Energy Price Performance

IREN opened at $13.70 on Tuesday. Iris Energy has a 1 year low of $2.79 and a 1 year high of $14.95. The company’s 50 day simple moving average is $6.37 and its 200 day simple moving average is $5.93.

Iris Energy (NASDAQ:IRENGet Free Report) last issued its quarterly earnings data on Wednesday, May 15th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.04). The business had revenue of $54.35 million during the quarter, compared to the consensus estimate of $58.41 million. As a group, sell-side analysts anticipate that Iris Energy will post 0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Iris Energy

Institutional investors have recently modified their holdings of the stock. Goldentree Asset Management LP bought a new position in Iris Energy during the 1st quarter worth approximately $626,000. PEAK6 Investments LLC acquired a new stake in shares of Iris Energy during the 1st quarter valued at approximately $133,000. K2 Principal Fund L.P. bought a new position in Iris Energy during the first quarter worth $675,000. Vident Advisory LLC boosted its holdings in Iris Energy by 58.0% in the first quarter. Vident Advisory LLC now owns 1,954,998 shares of the company’s stock worth $10,557,000 after purchasing an additional 717,843 shares during the period. Finally, Russell Investments Group Ltd. bought a new stake in Iris Energy during the first quarter valued at $893,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

About Iris Energy

(Get Free Report)

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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Analyst Recommendations for Iris Energy (NASDAQ:IREN)

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