Iris Energy’s (IREN) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Iris Energy (NASDAQ:IREN) in a report released on Wednesday,Benzinga reports.

A number of other equities analysts have also recently commented on IREN. Cantor Fitzgerald reiterated an “overweight” rating and issued a $20.00 target price on shares of Iris Energy in a research report on Wednesday, October 30th. Macquarie boosted their target price on Iris Energy from $12.00 to $13.50 and gave the company an “outperform” rating in a research note on Friday, August 30th. HC Wainwright raised their price target on Iris Energy from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday. Compass Point lowered their price objective on Iris Energy from $18.50 to $16.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Finally, JPMorgan Chase & Co. cut their target price on shares of Iris Energy from $11.00 to $9.50 and set an “overweight” rating on the stock in a report on Friday, August 23rd. One 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 data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $16.33.

Iris Energy Trading Up 9.0 %

Shares of NASDAQ IREN opened at $13.51 on Wednesday. Iris Energy has a one year low of $3.56 and a one year high of $15.75. The firm’s 50 day simple moving average is $9.51 and its two-hundred day simple moving average is $9.50.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Truist Financial Corp increased its position in shares of 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 buying an additional 1,575 shares during the period. Chesapeake Capital Corp IL boosted its position 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 acquiring an additional 3,861 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of Iris Energy by 13.2% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 54,515 shares of the company’s stock worth $473,000 after acquiring an additional 6,347 shares during the period. Wellington Management Group LLP raised its position in shares of Iris Energy by 28.3% in the 3rd quarter. Wellington Management Group LLP now owns 36,651 shares of the company’s stock worth $309,000 after acquiring an additional 8,092 shares in the last quarter. Finally, Bluefin Capital Management LLC purchased a new position in shares of Iris Energy in the 2nd quarter valued at approximately $113,000. 41.08% of the stock is currently owned by 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.