Cantor Fitzgerald Issues Positive Forecast for Iris Energy (NASDAQ:IREN) Stock Price

Iris Energy (NASDAQ:IREN) had its price objective upped by Cantor Fitzgerald from $20.00 to $23.00 in a report released on Wednesday,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

IREN has been the subject of several other reports. Roth Capital upgraded shares of Iris Energy to a “strong-buy” rating in a report on Tuesday, October 1st. HC Wainwright upped their target price on Iris Energy from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday. Roth Mkm initiated coverage on Iris Energy in a research note on Wednesday, October 2nd. They set a “buy” rating and a $14.00 price target on the stock. B. Riley lowered their price objective on 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 raised their target price on Iris Energy from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Iris Energy presently has an average rating of “Buy” and a consensus price target of $16.33.

Iris Energy Price Performance

IREN stock opened at $13.51 on Wednesday. The firm has a 50-day moving average price of $9.51 and a 200-day moving average price of $9.50. Iris Energy has a 12 month low of $3.56 and a 12 month high of $15.75.

Institutional Trading of Iris Energy

Large investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its stake in shares of Iris Energy by 56.3% in the 3rd quarter. Geode Capital Management LLC now owns 735,071 shares of the company’s stock valued at $6,204,000 after purchasing an additional 264,883 shares during the period. Sender Co & Partners Inc. acquired a new stake in shares of Iris Energy during the 3rd quarter worth approximately $561,000. Continuum Advisory LLC acquired a new stake in shares of Iris Energy during the 3rd quarter worth approximately $430,000. Y Intercept Hong Kong Ltd increased its stake in shares of Iris Energy by 592.2% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 206,706 shares of the company’s stock valued at $1,745,000 after acquiring an additional 176,843 shares in the last quarter. Finally, Main Management ETF Advisors LLC bought a new stake in shares of Iris Energy in the 3rd quarter valued at $760,000. 41.08% of the stock is currently 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.