Entropy Technologies LP decreased its position in Iris Energy Limited (NASDAQ:IREN - Free Report) by 83.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,500 shares of the company's stock after selling 59,300 shares during the period. Entropy Technologies LP's holdings in Iris Energy were worth $97,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. bought a new position in shares of Iris Energy during the first quarter valued at $893,000. Vident Advisory LLC boosted its stake in Iris Energy by 58.0% in the first quarter. Vident Advisory LLC now owns 1,954,998 shares of the company's stock valued at $10,557,000 after acquiring an additional 717,843 shares during the last quarter. K2 Principal Fund L.P. acquired a new stake in shares of Iris Energy during the first quarter worth $675,000. PEAK6 Investments LLC bought a new stake in shares of Iris Energy in the first quarter worth about $133,000. Finally, Goldentree Asset Management LP acquired a new stake in Iris Energy during the 1st quarter worth approximately $626,000. 41.08% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on IREN shares. Compass Point cut their price target on Iris Energy from $18.50 to $16.00 and set a "buy" rating on the stock in a report on Friday, August 30th. Roth Capital raised Iris Energy to a "strong-buy" rating in a research report on Tuesday, October 1st. HC Wainwright cut their target price on shares of Iris Energy from $15.00 to $13.00 and set a "buy" rating for the company in a research note on Thursday, August 29th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $20.00 price objective on shares of Iris Energy in a report on Wednesday, October 30th. Finally, Macquarie lifted their price target on shares of Iris Energy from $12.00 to $13.50 and gave the company an "outperform" rating in a research report on Friday, August 30th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $15.44.
Read Our Latest Stock Analysis on IREN
Iris Energy Stock Performance
Shares of IREN stock traded down $0.42 during mid-day trading on Monday, reaching $10.25. 12,422,924 shares of the stock traded hands, compared to its average volume of 13,273,594. Iris Energy Limited has a 1-year low of $2.84 and a 1-year high of $15.75. The stock's fifty day simple moving average is $9.02 and its two-hundred day simple moving average is $9.25.
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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