Iris Energy (NASDAQ:IREN) Rating Reiterated by HC Wainwright

HC Wainwright reiterated their buy rating on shares of Iris Energy (NASDAQ:IREN) in a research note released on Wednesday, Benzinga reports. They currently have a $15.00 target price on the stock. HC Wainwright also issued estimates for Iris Energy’s Q4 2024 earnings at $0.00 EPS and FY2024 earnings at ($0.02) EPS.

Other equities analysts also recently issued reports about the company. Sanford C. Bernstein started coverage on Iris Energy in a research report on Wednesday, July 10th. They set an outperform rating and a $26.00 price target on the stock. JPMorgan Chase & Co. upped their target price on Iris Energy from $10.00 to $11.00 and gave the company an overweight rating in a research report on Tuesday, June 4th. Cantor Fitzgerald raised Iris Energy to a strong-buy rating in a report on Wednesday, June 12th. B. Riley cut their price objective on shares of Iris Energy from $18.00 to $17.00 and set a buy rating on the stock in a report on Friday, July 12th. Finally, Canaccord Genuity Group boosted their target price on shares of Iris Energy from $12.00 to $15.00 and gave the stock a buy rating in a research report on Wednesday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus target price of $17.83.

Iris Energy Trading Up 1.2 %

Shares of IREN stock opened at $9.54 on Wednesday. Iris Energy has a twelve month low of $2.79 and a twelve month high of $15.75. The stock has a fifty day simple moving average of $11.11 and a two-hundred day simple moving average of $7.29.

Iris Energy (NASDAQ:IREN) last released its quarterly earnings data on Wednesday, May 15th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.04). The firm had revenue of $54.35 million for the quarter, compared to analysts’ expectations of $58.41 million. Equities research analysts predict that Iris Energy will post -0.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Vident Advisory LLC grew its position in shares of Iris Energy by 58.0% in the first quarter. Vident Advisory LLC now owns 1,954,998 shares of the company’s stock valued at $10,557,000 after purchasing an additional 717,843 shares during the period. Van ECK Associates Corp boosted its holdings in Iris Energy by 32.9% in the 4th quarter. Van ECK Associates Corp now owns 1,485,909 shares of the company’s stock worth $10,624,000 after buying an additional 368,140 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Iris Energy by 52.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,037,420 shares of the company’s stock worth $7,418,000 after buying an additional 356,752 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Iris Energy during the fourth quarter valued at approximately $1,655,000. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in shares of Iris Energy by 1,521.1% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 188,051 shares of the company’s stock valued at $2,123,000 after acquiring an additional 176,451 shares during the last quarter. 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.