Iris Energy’s (IREN) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Iris Energy (NASDAQ:IRENGet Free Report)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a report issued on Wednesday, Benzinga reports. They currently have a $20.00 price objective on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 89.21% from the stock’s previous close.

A number of other brokerages also recently weighed in on IREN. Macquarie upped their price target on shares of Iris Energy from $12.00 to $13.50 and gave the company an “outperform” rating in a report on Friday, August 30th. Roth Mkm assumed coverage on shares of Iris Energy in a research note on Wednesday, October 2nd. They set a “buy” rating and a $14.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on shares of Iris Energy from $11.00 to $9.50 and set an “overweight” rating for the company in a research note on Friday, August 23rd. B. Riley reduced 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 note on Friday, September 13th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $15.00 price objective on shares of Iris Energy in a research note on Thursday, August 29th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $15.44.

Check Out Our Latest Analysis on IREN

Iris Energy Price Performance

NASDAQ IREN traded up $0.02 on Wednesday, reaching $10.57. The company’s stock had a trading volume of 9,036,782 shares, compared to its average volume of 12,951,456. Iris Energy has a twelve month low of $2.79 and a twelve month high of $15.75. The firm’s 50 day moving average is $8.23 and its two-hundred day moving average is $8.69.

Hedge Funds Weigh In On Iris Energy

A number of large investors have recently made changes to their positions in the business. Bluefin Capital Management LLC acquired a new position in Iris Energy in the second quarter worth approximately $113,000. AFG Fiduciary Services Limited Partnership acquired a new position in Iris Energy in the third quarter worth approximately $77,000. Sippican Capital Advisors acquired a new position in Iris Energy in the third quarter worth approximately $94,000. Seven Eight Capital LP acquired a new position in Iris Energy in the second quarter worth approximately $146,000. Finally, Gordian Capital Singapore Pte Ltd acquired a new position in Iris Energy in the second quarter worth approximately $149,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

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.

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Analyst Recommendations for Iris Energy (NASDAQ:IREN)

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