By Stephen Nakrosis
Iris Energy shares were trading in the green shortly before the close of the regular trading session, a day after the company reported its fiscal year results, which showed its bitcoin mining revenue rising.
At 3:40 p.m. EDT on Thursday, the company’s shares were trading 12.6% higher at $4.99 each. Volume topped 2.3 million shares, above the stock’s 65-day average volume of some 1.4 million shares.
After the bell Wednesday, Iris reported fiscal year 2023 bitcoin mining revenue of $75.5 million, above the $59 million reported in fiscal year 2022. Iris also reported a net loss after income tax of $171.9 million in fiscal year 2023, compared to a $419.8 million loss in fiscal year 2022.
HC Wainwright & Co. raised its price target on Iris Energy shares to $11 each, from $10, as reported by Benzinga.
Write to Stephen Nakrosis at [email protected]
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