Iris Energy’s (IREN) Overweight Rating Reaffirmed at Cantor Fitzgerald

Iris Energy (NASDAQ:IREN)‘s stock had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $20.00 target price on the stock. Cantor Fitzgerald’s price target points to a potential upside of 130.41% from the company’s current price.

IREN has been the topic of several other research reports. Canaccord Genuity Group restated a “buy” rating and issued a $15.00 price objective on shares of Iris Energy in a research report on Thursday, August 29th. Roth Mkm assumed coverage on Iris Energy in a research report on Wednesday. They issued a “buy” rating and a $14.00 price objective on the stock. Roth Capital upgraded Iris Energy to a “strong-buy” rating in a research report on Tuesday. B. Riley lowered their price objective on Iris Energy from $17.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Finally, HC Wainwright lowered their price objective on Iris Energy from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Iris Energy presently has an average rating of “Buy” and a consensus target price of $15.44.

Iris Energy Trading Up 10.7 %

Shares of NASDAQ IREN opened at $8.68 on Thursday. Iris Energy has a 52 week low of $2.79 and a 52 week high of $15.75. The business’s 50 day moving average price is $8.00 and its 200 day moving average price is $8.20.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Bluefin Capital Management LLC acquired a new position in Iris Energy in the 2nd quarter valued at $113,000. Seven Eight Capital LP acquired a new position in Iris Energy in the 2nd quarter valued at $146,000. Gordian Capital Singapore Pte Ltd acquired a new position in Iris Energy in the 2nd quarter valued at $149,000. CCG Wealth Management LLC acquired a new position in Iris Energy in the 1st quarter valued at $72,000. Finally, VitalStone Financial LLC raised its stake in Iris Energy by 373.9% in the 1st quarter. VitalStone Financial LLC now owns 13,980 shares of the company’s stock valued at $71,000 after purchasing an additional 11,030 shares during the last quarter. 41.08% of the stock is 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.