Iris Energy (NASDAQ:IREN) Upgraded to Strong-Buy at Roth Capital

Iris Energy (NASDAQ:IREN) was upgraded by Roth Capital to a “strong-buy” rating in a research note issued to investors on Tuesday, Zacks.com reports.

Several other brokerages have also issued reports on IREN. Canaccord Genuity Group reiterated a “buy” rating and issued a $15.00 target price on shares of Iris Energy in a research report on Thursday, August 29th. Compass Point lowered their price target on shares of Iris Energy from $18.50 to $16.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Macquarie increased their price objective on Iris Energy from $12.00 to $13.50 and gave the stock an “outperform” rating in a research report on Friday, August 30th. JPMorgan Chase & Co. dropped their price target on shares of Iris Energy from $11.00 to $9.50 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Finally, B. Riley cut their price objective on Iris Energy from $17.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, September 13th. One investment 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. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $15.44.

Iris Energy Trading Up 0.9 %

Shares of Iris Energy stock opened at $7.80 on Tuesday. The firm has a 50-day simple moving average of $8.08 and a two-hundred day simple moving average of $8.20. Iris Energy has a fifty-two week low of $2.79 and a fifty-two week high of $15.75.

Institutional Investors Weigh In On Iris Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Iris Energy during the second quarter worth about $203,000. Bluefin Capital Management LLC acquired a new stake in shares of Iris Energy during the 2nd quarter valued at approximately $113,000. Gordian Capital Singapore Pte Ltd acquired a new stake in Iris Energy in the second quarter valued at $149,000. Dana Investment Advisors Inc. acquired a new position in shares of Iris Energy during the 2nd quarter worth $161,000. Finally, Truist Financial Corp boosted its position in shares of Iris Energy by 3.2% in the 2nd quarter. Truist Financial Corp now owns 51,575 shares of the company’s stock worth $582,000 after buying an additional 1,575 shares in the last quarter. 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.