Central Asset Investments & Management Holdings HK Ltd Takes $550,000 Position in Iris Energy Limited (NASDAQ:IREN)

Central Asset Investments & Management Holdings HK Ltd bought a new stake in Iris Energy Limited (NASDAQ:IREN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 55,964 shares of the company's stock, valued at approximately $550,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new stake in shares of Iris Energy during the fourth quarter worth $29,000. R Squared Ltd acquired a new stake in shares of Iris Energy in the 4th quarter worth $37,000. Covestor Ltd acquired a new stake in Iris Energy during the third quarter worth about $87,000. Sippican Capital Advisors acquired a new stake in shares of Iris Energy during the 3rd quarter worth approximately $94,000. Finally, World Equity Group Inc. acquired a new position in Iris Energy in the fourth quarter valued at approximately $98,000. Hedge funds and other institutional investors own 41.08% of the company's stock.

Analyst Ratings Changes

IREN has been the topic of several recent analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $23.00 price target on shares of Iris Energy in a research note on Thursday, February 13th. HC Wainwright lifted their price target on shares of Iris Energy from $16.00 to $22.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Macquarie upped their price objective on shares of Iris Energy from $13.50 to $19.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $15.00 target price (up previously from $9.50) on shares of Iris Energy in a report on Tuesday, December 10th. Finally, BTIG Research assumed coverage on shares of Iris Energy in a research report on Friday, December 20th. They set a "buy" rating and a $33.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.70.

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Iris Energy Stock Up 4.8 %

Shares of IREN traded up $0.38 during midday trading on Friday, reaching $8.24. 15,258,572 shares of the stock were exchanged, compared to its average volume of 16,669,123. Iris Energy Limited has a twelve month low of $4.15 and a twelve month high of $15.92. The business's 50-day moving average price is $11.14 and its 200 day moving average price is $10.17.

Iris Energy (NASDAQ:IREN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.09 earnings per share for the quarter, beating 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%. Analysts anticipate that Iris Energy Limited will post 0.43 EPS for the current 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.