Charles Schwab Investment Management Inc. lifted its stake in shares of Iris Energy Limited (NASDAQ:IREN - Free Report) by 96.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 710,890 shares of the company's stock after acquiring an additional 348,864 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.38% of Iris Energy worth $6,981,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Stonebridge Financial Group LLC bought a new stake in Iris Energy during the fourth quarter worth about $29,000. R Squared Ltd purchased a new position in shares of Iris Energy during the 4th quarter valued at about $37,000. World Equity Group Inc. bought a new stake in Iris Energy in the 4th quarter worth approximately $98,000. Private Advisor Group LLC purchased a new stake in Iris Energy during the fourth quarter valued at about $120,000. Finally, Sippican Capital Advisors grew its stake in shares of Iris Energy by 15.1% during the fourth quarter. Sippican Capital Advisors now owns 12,780 shares of the company's stock valued at $126,000 after buying an additional 1,680 shares during the last quarter. 41.08% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on IREN. BTIG Research initiated coverage on Iris Energy in a report on Friday, December 20th. They set a "buy" rating and a $33.00 target price for the company. JPMorgan Chase & Co. upgraded shares of Iris Energy from a "neutral" rating to an "overweight" rating and decreased their price objective for the stock from $15.00 to $12.00 in a report on Thursday, March 13th. HC Wainwright boosted 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. Canaccord Genuity Group raised their price objective on shares of Iris Energy from $17.00 to $23.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Finally, Macquarie upped 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. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $20.40.
Get Our Latest Report on Iris Energy
Iris Energy Stock Down 3.7 %
IREN stock traded down $0.25 on Thursday, reaching $6.46. 9,675,901 shares of the company traded hands, compared to its average volume of 15,244,360. The firm has a fifty day simple moving average of $9.83 and a 200-day simple moving average of $10.11. Iris Energy Limited has a one year low of $4.15 and a one year high of $15.92.
Iris Energy (NASDAQ:IREN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.09 earnings per share for the quarter, beating 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%. On average, research analysts forecast that Iris Energy Limited will post 0.43 EPS for the current fiscal year.
About Iris Energy
(
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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