Iris Energy Limited (NASDAQ:IREN – Get Rating) – Stock analysts at HC Wainwright dropped their Q3 2023 earnings per share (EPS) estimates for shares of Iris Energy in a research report issued to clients and investors on Wednesday, June 21st. HC Wainwright analyst M. Colonnese now expects that the company will post earnings of ($0.26) per share for the quarter, down from their previous forecast of ($0.16). The consensus estimate for Iris Energy’s current full-year earnings is ($1.25) per share. HC Wainwright also issued estimates for Iris Energy’s Q4 2023 earnings at ($0.14) EPS, FY2023 earnings at ($1.47) EPS, Q1 2024 earnings at ($0.04) EPS, Q4 2024 earnings at ($0.29) EPS and FY2024 earnings at ($0.20) EPS.
Several other research firms have also commented on IREN. Cantor Fitzgerald raised Iris Energy from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $4.00 to $7.00 in a research report on Friday, May 12th. Compass Point boosted their price target on Iris Energy from $6.50 to $11.00 and gave the stock a “buy” rating in a research report on Friday, April 14th. Finally, B. Riley upped their target price on Iris Energy from $4.00 to $5.00 in a research report on Tuesday, April 25th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $6.70.
Iris Energy Stock Performance
Institutional Investors Weigh In On Iris Energy
Several institutional investors and hedge funds have recently made changes to their positions in IREN. Van ECK Associates Corp raised its position in shares of Iris Energy by 124.3% during the 4th quarter. Van ECK Associates Corp now owns 1,051,665 shares of the company’s stock valued at $1,314,000 after acquiring an additional 582,831 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Iris Energy by 928.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 389,655 shares of the company’s stock valued at $487,000 after acquiring an additional 351,755 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of Iris Energy by 59.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 713,524 shares of the company’s stock valued at $892,000 after acquiring an additional 267,071 shares in the last quarter. Quarry LP bought a new position in Iris Energy during the 1st quarter worth $660,000. Finally, Barclays PLC bought a new position in Iris Energy during the 4th quarter worth $248,000. 13.60% of the stock is owned by institutional investors and hedge funds.
About Iris Energy
Iris Energy Limited owns and operates bitcoin mining data centers in Canada, the United States, and the Asia-Pacific. The company was incorporated in 2018 and is headquartered in Sydney, Australia.
Further Reading
- Get a free research report on Iris Energy from StockNews.com
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