SRN Advisors LLC bought a new position in Iris Energy Limited (NASDAQ:IREN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 100,000 shares of the company's stock, valued at approximately $982,000. SRN Advisors LLC owned about 0.05% of Iris Energy as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Stonebridge Financial Group LLC acquired a new position in shares of Iris Energy in the 4th quarter worth $29,000. R Squared Ltd acquired a new position in shares of Iris Energy in the 4th quarter worth $37,000. World Equity Group Inc. acquired a new position in shares of Iris Energy in the 4th quarter worth $98,000. Covestor Ltd acquired a new position in shares of Iris Energy in the 3rd quarter worth $87,000. Finally, Sippican Capital Advisors acquired a new position in shares of Iris Energy in the 3rd quarter worth $94,000. 41.08% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages recently issued reports on IREN. Macquarie lifted their target price on Iris Energy from $13.50 to $19.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Canaccord Genuity Group lifted their target price on Iris Energy from $17.00 to $23.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Needham & Company LLC reiterated a "hold" rating on shares of Iris Energy in a report on Thursday, February 13th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $15.00 price target (up previously from $9.50) on shares of Iris Energy in a report on Tuesday, December 10th. Finally, HC Wainwright lifted their price target on Iris Energy from $16.00 to $22.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $20.70.
Get Our Latest Report on Iris Energy
Iris Energy Stock Performance
NASDAQ IREN traded up $0.38 on Friday, reaching $8.24. The stock had a trading volume of 15,258,572 shares, compared to its average volume of 16,669,123. The business has a 50 day moving average price of $11.14 and a 200 day moving average price of $10.17. Iris Energy Limited has a 1 year low of $4.15 and a 1 year high of $15.92.
Iris Energy (NASDAQ:IREN - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.13. Iris Energy had a negative return on equity of 3.98% and a negative net margin of 17.94%. Analysts anticipate that Iris Energy Limited will post 0.43 earnings per share for the current fiscal year.
Iris Energy Company Profile
(
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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