Iris Energy Limited (NASDAQ:IREN – Get Free Report) saw a large growth in short interest in April. As of April 15th, there was short interest totalling 4,240,000 shares, a growth of 105.8% from the March 31st total of 2,060,000 shares. Currently, 3.6% of the shares of the company are short sold. Based on an average trading volume of 10,110,000 shares, the days-to-cover ratio is presently 0.4 days.
Analyst Ratings Changes
Several equities analysts have recently commented on the company. HC Wainwright restated a “buy” rating and issued a $10.00 price objective on shares of Iris Energy in a research report on Tuesday, April 2nd. B. Riley dropped their price target on Iris Energy from $10.00 to $9.50 and set a “buy” rating for the company in a research note on Friday, March 15th. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price objective on shares of Iris Energy in a research report on Thursday, March 28th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $9.00 target price on shares of Iris Energy in a research report on Thursday, March 28th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $12.00.
Read Our Latest Analysis on Iris Energy
Hedge Funds Weigh In On Iris Energy
Iris Energy Stock Performance
NASDAQ:IREN traded down $0.09 during trading hours on Friday, reaching $5.08. The stock had a trading volume of 4,530,705 shares, compared to its average volume of 9,924,260. Iris Energy has a 52 week low of $2.79 and a 52 week high of $9.69. The company has a 50 day moving average price of $5.45 and a two-hundred day moving average price of $5.03.
Iris Energy (NASDAQ:IREN – Get Free Report) last posted its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter. The firm had revenue of $42.57 million during the quarter, compared to analyst estimates of $37.58 million. As a group, equities analysts anticipate that Iris Energy will post 0.08 earnings per share for the current fiscal year.
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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