Iris Energy Limited (NASDAQ:IREN – Get Free Report) has been assigned a consensus recommendation of “Buy” from the six research firms that are presently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $17.57.
A number of analysts recently weighed in on IREN shares. Canaccord Genuity Group increased their price objective on shares of Iris Energy from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. B. Riley reduced their target price on shares of Iris Energy from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday. JPMorgan Chase & Co. raised their target price on shares of Iris Energy from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 4th. Cantor Fitzgerald raised shares of Iris Energy to a “strong-buy” rating in a research report on Wednesday, June 12th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $10.00 target price on shares of Iris Energy in a research report on Thursday, May 16th.
Check Out Our Latest Research Report on IREN
Hedge Funds Weigh In On Iris Energy
Iris Energy Price Performance
Iris Energy stock opened at $12.31 on Wednesday. Iris Energy has a 1-year low of $2.79 and a 1-year high of $15.75. The company’s 50-day moving average is $10.04 and its 200 day moving average is $7.04.
Iris Energy (NASDAQ:IREN – Get Free Report) last posted its quarterly earnings data on Wednesday, May 15th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.04). The company had revenue of $54.35 million for the quarter, compared to the consensus estimate of $58.41 million.
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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