Advantage Alpha Capital Partners LP purchased a new position in Iris Energy Limited (NASDAQ:IREN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 43,068 shares of the company's stock, valued at approximately $423,000.
A number of other institutional investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new position in shares of Iris Energy in the fourth quarter worth approximately $29,000. HM Payson & Co. bought a new position in Iris Energy in the 4th quarter valued at approximately $30,000. R Squared Ltd purchased a new stake in Iris Energy during the 4th quarter valued at $37,000. World Equity Group Inc. bought a new stake in shares of Iris Energy in the fourth quarter worth approximately $98,000. Finally, Farther Finance Advisors LLC bought a new stake in shares of Iris Energy in the fourth quarter worth $98,000. Institutional investors own 41.08% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on IREN shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $23.00 price target on shares of Iris Energy in a research report on Thursday, February 13th. Canaccord Genuity Group raised 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. HC Wainwright boosted 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. BTIG Research initiated coverage on Iris Energy in a research note on Friday, December 20th. They issued a "buy" rating and a $33.00 price objective on the stock. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Iris Energy in a research note on Thursday, February 13th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $20.40.
Check Out Our Latest Stock Analysis on Iris Energy
Iris Energy Stock Performance
NASDAQ:IREN traded down $0.29 during mid-day trading on Tuesday, hitting $7.40. 11,521,898 shares of the stock traded hands, compared to its average volume of 15,264,561. Iris Energy Limited has a 52 week low of $4.15 and a 52 week high of $15.92. The firm's 50 day moving average is $9.92 and its two-hundred day moving average is $10.13.
Iris Energy (NASDAQ:IREN - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates 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%. Research analysts predict that Iris Energy Limited will post 0.43 EPS for the current 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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