Charles Schwab Investment Management Inc. Boosts Holdings in Iris Energy Limited (NASDAQ:IREN)

Charles Schwab Investment Management Inc. boosted its stake in Iris Energy Limited (NASDAQ:IREN - Free Report) by 96.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 0.38% of Iris Energy worth $6,981,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the stock. Stonebridge Financial Group LLC purchased a new stake in shares of Iris Energy in the fourth quarter worth $29,000. R Squared Ltd purchased a new position in Iris Energy during the fourth quarter valued at $37,000. World Equity Group Inc. purchased a new position in shares of Iris Energy during the 4th quarter valued at about $98,000. Private Advisor Group LLC purchased a new position in shares of Iris Energy during the 4th quarter valued at $120,000. Finally, Sippican Capital Advisors lifted its holdings in Iris Energy by 15.1% in the 4th quarter. Sippican Capital Advisors now owns 12,780 shares of the company's stock worth $126,000 after purchasing an additional 1,680 shares in the last quarter. Institutional investors own 41.08% of the company's stock.

Wall Street Analysts Forecast Growth

IREN has been the topic of several analyst reports. Macquarie boosted their target price on Iris Energy from $13.50 to $19.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. BTIG Research initiated coverage on Iris Energy in a research report on Friday, December 20th. They set a "buy" rating and a $33.00 target price for the company. JPMorgan Chase & Co. raised shares of Iris Energy from a "neutral" rating to an "overweight" rating and reduced their price objective for the stock from $15.00 to $12.00 in a research note on Thursday, March 13th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $23.00 price objective on shares of Iris Energy in a research report on Thursday, February 13th. Finally, Needham & Company LLC restated 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 given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $20.40.

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Iris Energy Price Performance

NASDAQ IREN traded down $0.37 on Tuesday, reaching $7.32. The stock had a trading volume of 7,218,062 shares, compared to its average volume of 15,253,584. Iris Energy Limited has a 12-month low of $4.15 and a 12-month high of $15.92. The business's 50-day moving average price is $9.99 and its 200 day moving average price is $10.12.

Iris Energy (NASDAQ:IREN - Get Free Report) last announced its quarterly earnings data 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%. On average, research analysts forecast that Iris Energy Limited will post 0.43 earnings per share for the current year.

Iris Energy Profile

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