Iris Energy (NASDAQ:IREN) Price Target Raised to $16.00 at HC Wainwright

Iris Energy (NASDAQ:IREN) had its price objective hoisted by HC Wainwright from $13.00 to $16.00 in a report released on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. B. Riley decreased their target price 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. JPMorgan Chase & Co. reduced their price objective on Iris Energy from $11.00 to $9.50 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Roth Capital raised Iris Energy to a “strong-buy” rating in a report on Tuesday, October 1st. Needham & Company LLC started coverage on Iris Energy in a report on Wednesday, September 4th. They set a “hold” rating for the company. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $15.00 price target on shares of Iris Energy in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Iris Energy currently has a consensus rating of “Buy” and a consensus target price of $16.33.

Iris Energy Stock Up 29.7 %

NASDAQ:IREN opened at $12.40 on Wednesday. The firm’s 50-day moving average price is $9.32 and its 200-day moving average price is $9.46. Iris Energy has a 1-year low of $3.56 and a 1-year high of $15.75.

Institutional Inflows and Outflows

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

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.