In a report released yesterday, Josh Siegler from Cantor Fitzgerald maintained a Buy rating on Iris Energy (IREN – Research Report), with a price target of $10.00. The company’s shares closed yesterday at $6.77.
Siegler covers the Financial sector, focusing on stocks such as Cleanspark, Root, and Riot Platforms. According to TipRanks, Siegler has an average return of 44.4% and a 58.24% success rate on recommended stocks.
Iris Energy has an analyst consensus of Strong Buy, with a price target consensus of $9.40, which is a 38.85% upside from current levels. In a report released on February 22, Canaccord Genuity also maintained a Buy rating on the stock with a $9.00 price target.
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The company has a one-year high of $9.69 and a one-year low of $2.21. Currently, Iris Energy has an average volume of 7.33M.
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Iris Energy (IREN) Company Description:
Iris Energy Ltd is a bitcoin mining company. It builds, owns, and operates data centers and electrical infrastructure for the mining of Bitcoin primarily powered by renewable energy. The company’s mining operations generate revenue by earning Bitcoin through a combination of block rewards and transaction fees from the operation of its specialized computers called Application-specific Integrated Circuits and exchanging these Bitcoin for currencies such as USD or CAD on a daily basis.
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