Iris Energy’s (IREN) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Iris Energy (NASDAQ:IREN) in a research report report published on Wednesday, Benzinga reports. Cantor Fitzgerald currently has a $20.00 price objective on the stock.

Other research analysts also recently issued reports about the stock. Sanford C. Bernstein started coverage on shares of Iris Energy in a research note on Wednesday, July 10th. They set an “outperform” rating and a $26.00 price target on the stock. HC Wainwright decreased their price target on shares of Iris Energy from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Compass Point decreased their price target on shares of Iris Energy from $18.50 to $16.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Roth Mkm started coverage on shares of Iris Energy in a research note on Wednesday, October 2nd. They set a “buy” rating and a $14.00 price target on the stock. Finally, Roth Capital raised shares of Iris Energy to a “strong-buy” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Iris Energy presently has an average rating of “Buy” and a consensus price target of $15.44.

Iris Energy Trading Down 0.8 %

IREN traded down $0.07 on Wednesday, reaching $9.05. The company had a trading volume of 14,840,817 shares, compared to its average volume of 12,992,236. The business has a 50 day simple moving average of $8.28 and a 200 day simple moving average of $8.70. Iris Energy has a 52-week low of $2.79 and a 52-week high of $15.75.

Institutional Trading of Iris Energy

Large investors have recently added to or reduced their stakes in the stock. Bluefin Capital Management LLC bought a new stake in Iris Energy in the second quarter valued at $113,000. AFG Fiduciary Services Limited Partnership bought a new stake in Iris Energy in the third quarter valued at $77,000. Covestor Ltd bought a new stake in Iris Energy in the third quarter valued at $87,000. Sippican Capital Advisors bought a new stake in Iris Energy in the third quarter valued at $94,000. Finally, Seven Eight Capital LP bought a new stake in Iris Energy in the second quarter valued at $146,000. Institutional investors own 41.08% of the company’s stock.

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.