Iris Energy Limited (NASDAQ:IREN – Get Free Report) was the target of a large growth in short interest in the month of August. As of August 15th, there was short interest totalling 6,910,000 shares, a growth of 5.2% from the July 31st total of 6,570,000 shares. Currently, 4.1% of the shares of the stock are sold short. Based on an average trading volume of 17,040,000 shares, the short-interest ratio is currently 0.4 days.
Wall Street Analysts Forecast Growth
IREN has been the topic of a number of analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $15.00 target price on shares of Iris Energy in a report on Thursday, August 29th. JPMorgan Chase & Co. decreased their target price on shares of Iris Energy from $11.00 to $9.50 and set an “overweight” rating on the stock in a report on Friday, August 23rd. Compass Point decreased their target price on shares of Iris Energy from $18.50 to $16.00 and set a “buy” rating on the stock in a report on Friday. HC Wainwright decreased their target price on shares of Iris Energy from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, Sanford C. Bernstein started coverage on shares of Iris Energy in a research note on Wednesday, July 10th. They issued an “outperform” rating and a $26.00 price target for the company. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Iris Energy presently has a consensus rating of “Buy” and a consensus target price of $16.25.
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Institutional Inflows and Outflows
Iris Energy Stock Performance
Shares of NASDAQ IREN opened at $7.91 on Tuesday. Iris Energy has a 12 month low of $2.79 and a 12 month high of $15.75. The firm has a fifty day simple moving average of $10.08 and a two-hundred day simple moving average of $7.92.
About Iris Energy
Iris Energy Limited owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.
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