Advantage Alpha Capital Partners LP Makes New $423,000 Investment in Iris Energy Limited (NASDAQ:IREN)

Advantage Alpha Capital Partners LP purchased a new stake in Iris Energy Limited (NASDAQ:IREN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 43,068 shares of the company's stock, valued at approximately $423,000.

Several other hedge funds have also made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new stake in shares of Iris Energy during the 4th quarter worth about $29,000. HM Payson & Co. acquired a new position in shares of Iris Energy in the 4th quarter worth approximately $30,000. R Squared Ltd acquired a new position in Iris Energy during the fourth quarter worth $37,000. World Equity Group Inc. purchased a new stake in shares of Iris Energy in the 4th quarter valued at $98,000. Finally, Farther Finance Advisors LLC acquired a new position in Iris Energy during the 4th quarter worth about $98,000. Hedge funds and other institutional investors own 41.08% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on IREN. HC Wainwright boosted their price target on shares of Iris Energy from $16.00 to $22.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. BTIG Research started coverage on Iris Energy in a report on Friday, December 20th. They issued a "buy" rating and a $33.00 target price for the company. Macquarie upped their price target on Iris Energy from $13.50 to $19.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. B. Riley lifted their price objective on Iris Energy from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. upgraded shares of Iris Energy from a "neutral" rating to an "overweight" rating and cut their target price for the stock from $15.00 to $12.00 in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $20.40.

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Iris Energy Stock Down 6.0 %

Shares of NASDAQ:IREN traded down $0.39 during trading on Friday, hitting $6.07. 13,686,367 shares of the company were exchanged, compared to its average volume of 15,308,323. The firm's 50 day moving average price is $9.61 and its 200-day moving average price is $10.08. Iris Energy Limited has a 12-month low of $4.15 and a 12-month high of $15.92.

Iris Energy (NASDAQ:IREN - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.13. Iris Energy had a negative net margin of 17.94% and a negative return on equity of 3.98%. On average, equities analysts predict that Iris Energy Limited will post 0.43 EPS for the current fiscal year.

Iris Energy Company Profile

Iris Energy Limited owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.