Cantor Fitzgerald Issues Positive Forecast for Iris Energy (NASDAQ:IREN) Stock Price

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

Several other analysts have also weighed in on IREN. Macquarie raised their price objective on Iris Energy from $12.00 to $13.50 and gave the company an “outperform” rating in a research note on Friday, August 30th. Needham & Company LLC restated a “hold” rating on shares of Iris Energy in a research note on Wednesday. B. Riley lowered their price objective on shares of Iris Energy from $17.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, September 13th. HC Wainwright raised their target price on shares of Iris Energy from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Compass Point decreased their target price on shares of Iris Energy from $18.50 to $16.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $16.33.

Iris Energy Stock 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’s fifty day moving average price is $9.32 and its two-hundred day moving average price is $9.46.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. AFG Fiduciary Services Limited Partnership acquired a new stake in shares of Iris Energy in the third quarter valued at about $77,000. Covestor Ltd bought a new stake in Iris Energy in the third quarter valued at approximately $87,000. Sippican Capital Advisors acquired a new stake in Iris Energy during the 3rd quarter valued at approximately $94,000. Bluefin Capital Management LLC bought a new position in Iris Energy during the 2nd quarter worth approximately $113,000. Finally, PEAK6 Investments LLC acquired a new position in shares of Iris Energy in the 1st quarter worth approximately $133,000. 41.08% of the stock is 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.