The average one-year price target for Iris Energy (NASDAQ:IREN) has been revised to 9.18 / share. This is an increase of 10.20% from the prior estimate of 8.33 dated June 1, 2023.
The price target is an average of many targets provided by analysts. The latest targets range from a low of 7.07 to a high of 13.65 / share. The average price target represents an increase of 56.66% from the latest reported closing price of 5.86 / share.
What are Other Shareholders Doing?
Platinum Investment Management holds 2,736K shares representing 4.98% ownership of the company. No change in the last quarter.
VGI Partners holds 1,186K shares representing 2.16% ownership of the company. In it's prior filing, the firm reported owning 1,898K shares, representing a decrease of 60.12%. The firm increased its portfolio allocation in IREN by 28.48% over the last quarter.
Van Eck Associates holds 810K shares representing 1.47% ownership of the company. In it's prior filing, the firm reported owning 1,052K shares, representing a decrease of 29.90%. The firm increased its portfolio allocation in IREN by 66.11% over the last quarter.
Exchange Traded Concepts holds 640K shares representing 1.16% ownership of the company. In it's prior filing, the firm reported owning 714K shares, representing a decrease of 11.55%. The firm increased its portfolio allocation in IREN by 209,827.69% over the last quarter.
BITQ - Bitwise Crypto Industry Innovators ETF holds 640K shares representing 1.16% ownership of the company. In it's prior filing, the firm reported owning 714K shares, representing a decrease of 11.55%. The firm increased its portfolio allocation in IREN by 21.50% over the last quarter.
Iris Energy Background Information
(This description is provided by the company.)
Iris Energy is a sustainable Bitcoin mining company that supports local communities, as well as the decarbonization of energy markets and the global Bitcoin network. Focus on low-cost renewables: Iris Energy targets entry into regions where there are low-cost, abundant and attractive renewable energy sources, and where the Company can support local communities Long-term security over infrastructure, land and power supply: Iris Energy owns its electrical infrastructure and data centers, providing security and operational control over its assets. Iris Energy also focuses on grid-connected power access which helps to ensure it is able to utilize a reliable, long-term supply of power Seasoned management team: Iris Energy’s team has an impressive track record of success across energy, infrastructure, renewables, finance, digital assets and data centers
Additional reading:
- Iris Energy Announces 9.1 EH/s Expansion Plan and Revitalization of HPC Strategy
- Average operating capacity increased by 39% to 5.5 EH/s Fully-funded expansion to 6.5 EH/s underway New auditor appointed
- 15950 N. Dallas Parkway
- Iris Energy Announces Appointment of New Accounting Firm
- Increase in self-mining capacity to 5.5 EH/s complete First 20MW Childress data center operational Investor update call to be held on May 10
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
