Iris Energy (NASDAQ:IREN) Price Target Raised to $13.50

Iris Energy (NASDAQ:IREN) had its price objective upped by Macquarie from $12.00 to $13.50 in a report issued on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other research analysts have also recently issued research reports about the stock. Sanford C. Bernstein assumed coverage on shares of Iris Energy in a research note on Wednesday, July 10th. They set an outperform rating and a $26.00 price target on the stock. B. Riley lowered their target price on Iris Energy from $18.00 to $17.00 and set a buy rating on the stock in a research report on Friday, July 12th. HC Wainwright cut their price target on Iris Energy from $15.00 to $13.00 and set a buy rating for the company in a report on Thursday. JPMorgan Chase & Co. decreased their price objective on Iris Energy from $11.00 to $9.50 and set an overweight rating on the stock in a research note on Friday, August 23rd. Finally, Canaccord Genuity Group reiterated a buy rating and set a $15.00 price objective on shares of Iris Energy in a research note on Thursday. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus target price of $16.25.

Iris Energy Trading Down 7.2 %

Shares of NASDAQ:IREN opened at $7.91 on Friday. The firm’s 50 day moving average price is $10.17 and its 200-day moving average price is $7.92. Iris Energy has a twelve month low of $2.79 and a twelve month high of $15.75.

Institutional Trading of Iris Energy

Several institutional investors have recently made changes to their positions in the business. Counterpoint Mutual Funds LLC purchased a new position in Iris Energy in the 4th quarter worth approximately $84,000. Seven Eight Capital LP bought a new stake in shares of Iris Energy during the second quarter valued at approximately $146,000. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Iris Energy in the second quarter worth $149,000. CCG Wealth Management LLC bought a new position in shares of Iris Energy during the first quarter worth $72,000. Finally, VitalStone Financial LLC boosted its position 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 last quarter. Hedge funds and other institutional investors own 41.08% of the company’s stock.

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.