Iris Energy (NASDAQ:IREN) Price Target Raised to $23.00 at Cantor Fitzgerald

Iris Energy (NASDAQ:IREN) had its price target increased by Cantor Fitzgerald from $20.00 to $23.00 in a report released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts also recently issued reports on the stock. Roth Mkm began coverage on shares of Iris Energy in a research report on Wednesday, October 2nd. They set a “buy” rating and a $14.00 target price on the stock. JPMorgan Chase & Co. dropped their price objective 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. HC Wainwright raised their target price on Iris Energy from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday. Roth Capital raised Iris Energy to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, Canaccord Genuity Group raised their price objective on Iris Energy from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $16.33.

Iris Energy Trading Up 29.7 %

Shares of IREN stock opened at $12.40 on Wednesday. Iris Energy has a fifty-two week low of $3.56 and a fifty-two week high of $15.75. The stock has a 50 day simple moving average of $9.32 and a two-hundred day simple moving average of $9.46.

Institutional Investors Weigh In On Iris Energy

A number of institutional investors and hedge funds have recently bought and sold shares of IREN. Central Asset Investments & Management Holdings HK Ltd purchased a new stake in shares of Iris Energy in the second quarter valued at about $779,000. Van ECK Associates Corp increased its stake in Iris Energy by 56.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,671 shares of the company’s stock valued at $13,938,000 after buying an additional 576,726 shares during the last quarter. Vontobel Holding Ltd. lifted its position in shares of Iris Energy by 123.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 49,322 shares of the company’s stock worth $416,000 after buying an additional 27,212 shares in the last quarter. Creative Planning lifted its position in shares of Iris Energy by 71.2% during the 3rd quarter. Creative Planning now owns 457,625 shares of the company’s stock worth $3,862,000 after buying an additional 190,300 shares in the last quarter. Finally, Campbell Capital Management Inc. purchased a new position in shares of Iris Energy in the 3rd quarter worth approximately $608,000. 41.08% of the stock is owned by hedge funds and other institutional investors.

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.