Bank of Montreal Can Invests $9.97 Million in Iris Energy Limited (NASDAQ:IREN)
Bank of Montreal Can has invested approximately $1.97 million in Iris Energy Limited (NASDAQ:IREN) by acquiring 882,950 shares during the 2nd quarter. This investment represents 0.60% ownership of the company. Other institutional investors have also increased their stakes in Iris Energy. The stock has seen a recent decline of 3.1%, with a current trading price of $1.85. Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and an average price target of $1.63.
Bank of Montreal Can bought a new position in shares of Iris Energy Limited (NASDAQ:IREN - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 882,950 shares of the company's stock, valued at approximately $9,969,000. Bank of Montreal Can owned 0.60% of Iris Energy at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of IREN. VitalStone Financial LLC boosted its holdings in Iris Energy by 373.9% in the first quarter. VitalStone Financial LLC now owns 13,980 shares of the company's stock worth $71,000 after acquiring an additional 11,030 shares in the last quarter. Seven Eight Capital LP bought a new stake in Iris Energy during the 2nd quarter worth approximately $146,000. CCG Wealth Management LLC purchased a new stake in shares of Iris Energy in the first quarter worth approximately $72,000. PEAK6 Investments LLC bought a new position in shares of Iris Energy in the first quarter valued at approximately $133,000. Finally, Commerce Bank purchased a new position in shares of Iris Energy during the fourth quarter valued at approximately $256,000. 41.08% of the stock is owned by institutional investors.
Iris Energy Trading Down 3.1 %
Shares of IREN stock opened at $8.85 on Monday. Iris Energy Limited has a 52 week low of $2.79 and a 52 week high of $15.75. The company has a 50 day moving average price of $8.21 and a 200-day moving average price of $8.15.
Analyst Ratings Changes
Several equities research analysts have commented on IREN shares. Macquarie increased their price objective on shares of Iris Energy from $12.00 to $13.50 and gave the company an "outperform" rating in a research note on Friday, August 30th. B. Riley lowered their price target on Iris Energy from $17.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, September 13th. Needham & Company LLC assumed coverage on shares of Iris Energy in a research report on Wednesday, September 4th. They issued a "hold" rating on the stock. Cantor Fitzgerald dropped their target price on shares of Iris Energy from $23.00 to $20.00 and set an "overweight" rating for the company in a report on Thursday, August 29th. Finally, Compass Point decreased their target price on Iris Energy from $18.50 to $16.00 and set a "buy" rating for the company in a research report on Friday, August 30th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $15.63.
Read Our Latest Analysis on IREN
About Iris Energy
(Free Report)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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