Iris Energy Limited (NASDAQ:IREN) Short Interest Update

Iris Energy Limited (NASDAQ:IREN) was the recipient of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 13,630,000 shares, a decline of 5.4% from the December 15th total of 14,410,000 shares. Approximately 7.6% of the company’s stock are sold short. Based on an average daily trading volume, of 17,400,000 shares, the short-interest ratio is presently 0.8 days.

Institutional Trading of Iris Energy

Large investors have recently made changes to their positions in the business. Truist Financial Corp increased its position in Iris Energy by 3.2% during the 2nd quarter. Truist Financial Corp now owns 51,575 shares of the company’s stock valued at $582,000 after purchasing an additional 1,575 shares during the period. Evolution Wealth Advisors LLC boosted its position in Iris Energy by 8.7% in the fourth quarter. Evolution Wealth Advisors LLC now owns 47,880 shares of the company’s stock valued at $470,000 after buying an additional 3,830 shares during the last quarter. Chesapeake Capital Corp IL raised its stake in shares of Iris Energy by 27.9% during the 3rd quarter. Chesapeake Capital Corp IL now owns 17,695 shares of the company’s stock valued at $157,000 after buying an additional 3,861 shares during the last quarter. Chicago Partners Investment Group LLC grew its stake in shares of Iris Energy by 13.2% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 54,515 shares of the company’s stock worth $473,000 after purchasing an additional 6,347 shares during the period. Finally, Wellington Management Group LLP boosted its position in Iris Energy by 28.3% during the third quarter. Wellington Management Group LLP now owns 36,651 shares of the company’s stock worth $309,000 after purchasing an additional 8,092 shares in the last quarter. 41.08% of the stock is currently owned by institutional investors.

Iris Energy Stock Performance

NASDAQ IREN opened at $11.99 on Friday. Iris Energy has a 12 month low of $3.56 and a 12 month high of $15.92. The company’s 50 day moving average is $11.74 and its two-hundred day moving average is $10.02.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on IREN. HC Wainwright raised their price objective on shares of Iris Energy from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $15.00 target price (up previously from $9.50) on shares of Iris Energy in a research note on Tuesday, December 10th. B. Riley boosted their price objective on Iris Energy from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Cantor Fitzgerald raised their price target on shares of Iris Energy from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Finally, BTIG Research assumed coverage on Iris Energy in a research note on Friday, December 20th. They set a “buy” rating and a $33.00 price target for the company. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Iris Energy currently has an average rating of “Moderate Buy” and a consensus price target of $19.50.

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.