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

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

IREN has been the subject of a number of other reports. Roth Mkm assumed coverage on Iris Energy in a research report on Wednesday. They issued a buy rating and a $14.00 price target for the company. Needham & Company LLC assumed coverage on Iris Energy in a research report on Wednesday, September 4th. They issued a hold rating for the company. Cantor Fitzgerald lowered their price target on Iris Energy from $23.00 to $20.00 and set an overweight rating for the company in a research report on Thursday, August 29th. JPMorgan Chase & Co. lowered their price target 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. Finally, Canaccord Genuity Group reissued a buy rating and issued a $15.00 price target on shares of Iris Energy in a research report 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Buy and an average target price of $15.44.

Iris Energy Stock Up 0.9 %

Shares of NASDAQ:IREN opened at $7.80 on Tuesday. Iris Energy has a twelve month low of $2.79 and a twelve month high of $15.75. The stock’s 50 day moving average is $8.08 and its 200-day moving average is $8.20.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Bluefin Capital Management LLC bought a new position in shares of Iris Energy during the 2nd quarter worth $113,000. Seven Eight Capital LP bought a new position in shares of Iris Energy during the 2nd quarter worth $146,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of Iris Energy during the 2nd quarter worth $149,000. CCG Wealth Management LLC bought a new position in shares of Iris Energy during the 1st quarter worth $72,000. Finally, VitalStone Financial LLC grew its stake in shares of Iris Energy by 373.9% during the 1st quarter. VitalStone Financial LLC now owns 13,980 shares of the company’s stock worth $71,000 after acquiring an additional 11,030 shares during the period. Institutional investors own 41.08% of the company’s stock.

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.