Iris Energy (NASDAQ:IREN) Rating Reiterated by Cantor Fitzgerald

Iris Energy (NASDAQ:IRENGet Free Report)‘s stock had its “overweight” rating reaffirmed by Cantor Fitzgerald in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $23.00 price objective on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 123.08% from the company’s previous close.

Several other brokerages have also weighed in on IREN. B. Riley cut their price objective on shares of Iris Energy from $10.00 to $9.50 and set a “buy” rating on the stock in a report on Friday, March 15th. Canaccord Genuity Group increased their target price on shares of Iris Energy from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. HC Wainwright reiterated a “buy” rating and issued a $10.00 target price on shares of Iris Energy in a report on Thursday, May 16th. Finally, JPMorgan Chase & Co. increased their target price on shares of Iris Energy from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Tuesday, June 4th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $14.92.

View Our Latest Stock Analysis on Iris Energy

Iris Energy Stock Performance

Shares of NASDAQ IREN opened at $10.31 on Tuesday. The company’s 50 day simple moving average is $6.08 and its 200 day simple moving average is $5.81. Iris Energy has a fifty-two week low of $2.79 and a fifty-two week high of $11.49.

Iris Energy (NASDAQ:IRENGet Free Report) last announced its quarterly earnings data on Wednesday, May 15th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.04). The company had revenue of $54.35 million for the quarter, compared to analyst estimates of $58.41 million. On average, research analysts anticipate that Iris Energy will post 0.03 EPS for the current year.

Institutional Investors Weigh In On Iris Energy

Several hedge funds have recently bought and sold shares of IREN. Tucker Asset Management LLC acquired a new stake in shares of Iris Energy during the third quarter worth $47,000. VitalStone Financial LLC raised its holdings in shares of Iris Energy by 373.9% during the first quarter. VitalStone Financial LLC now owns 13,980 shares of the company’s stock worth $71,000 after acquiring an additional 11,030 shares during the period. CCG Wealth Management LLC acquired a new stake in shares of Iris Energy during the first quarter worth $72,000. Counterpoint Mutual Funds LLC acquired a new stake in shares of Iris Energy during the fourth quarter worth $84,000. Finally, PEAK6 Investments LLC acquired a new stake in shares of Iris Energy during the first quarter worth $133,000. 41.08% of the stock is currently owned by institutional investors and hedge funds.

Iris Energy Company Profile

(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.

Further Reading

Analyst Recommendations for Iris Energy (NASDAQ:IREN)

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