Iris Energy’s (IREN) “Neutral” Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their neutral rating on shares of Iris Energy (NASDAQ:IREN) in a report issued on Tuesday, Marketbeat.com reports. They currently have a $15.00 target price on the stock, up from their prior target price of $9.50.

A number of other brokerages have also commented on IREN. Compass Point cut their price objective on shares of Iris Energy from $18.50 to $16.00 and set a “buy” rating on the stock in a report on Friday, August 30th. B. Riley cut their price target on Iris Energy from $17.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Needham & Company LLC restated a “hold” rating on shares of Iris Energy in a research note on Wednesday, November 27th. Cantor Fitzgerald lifted their price objective on Iris Energy from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Finally, Roth Capital upgraded Iris Energy to a “strong-buy” rating in a research note on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Iris Energy currently has a consensus rating of “Moderate Buy” and an average target price of $17.56.

Iris Energy Trading Down 7.9 %

IREN opened at $13.36 on Tuesday. The firm’s 50 day moving average is $10.38 and its 200-day moving average is $9.97. Iris Energy has a 52-week low of $3.56 and a 52-week high of $15.92.

Institutional Trading of Iris Energy

A number of institutional investors and hedge funds have recently modified their holdings of IREN. AFG Fiduciary Services Limited Partnership acquired a new position in shares of Iris Energy in the 3rd quarter valued at about $77,000. Covestor Ltd acquired a new position in Iris Energy in the third quarter valued at approximately $87,000. Sippican Capital Advisors acquired a new stake in shares of Iris Energy during the 3rd quarter worth approximately $94,000. Bluefin Capital Management LLC acquired a new stake in shares of Iris Energy during the 2nd quarter worth approximately $113,000. Finally, Seven Eight Capital LP acquired a new position in Iris Energy during the 2nd quarter valued at approximately $146,000. 41.08% of the stock is owned by institutional investors and hedge funds.

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.