Headlands Technologies LLC trimmed its position in Iris Energy Limited (NASDAQ:IREN - Free Report) by 94.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 25,063 shares of the company's stock after selling 436,329 shares during the period. Headlands Technologies LLC's holdings in Iris Energy were worth $246,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Stonebridge Financial Group LLC bought a new position in Iris Energy in the 4th quarter valued at $29,000. HM Payson & Co. bought a new position in Iris Energy during the fourth quarter valued at about $30,000. R Squared Ltd purchased a new stake in Iris Energy during the fourth quarter worth about $37,000. World Equity Group Inc. bought a new stake in Iris Energy in the fourth quarter worth about $98,000. Finally, Farther Finance Advisors LLC purchased a new position in Iris Energy in the fourth quarter valued at about $98,000. Institutional investors own 41.08% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts recently commented on IREN shares. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $23.00 price target on shares of Iris Energy in a report on Thursday, February 13th. JPMorgan Chase & Co. upgraded Iris Energy from a "neutral" rating to an "overweight" rating and lowered their target price for the company from $15.00 to $12.00 in a research note on Thursday, March 13th. B. Riley lifted their price objective on Iris Energy from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. BTIG Research started coverage on shares of Iris Energy in a report on Friday, December 20th. They set a "buy" rating and a $33.00 price objective on the stock. Finally, 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. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Iris Energy has a consensus rating of "Buy" and an average target price of $20.40.
Read Our Latest Analysis on IREN
Iris Energy Stock Performance
Shares of IREN traded down $0.51 during trading hours on Thursday, reaching $5.40. 7,569,388 shares of the company's stock traded hands, compared to its average volume of 15,324,801. Iris Energy Limited has a 12 month low of $4.15 and a 12 month high of $15.92. The firm's 50 day simple moving average is $8.59 and its 200-day simple moving average is $9.96.
Iris Energy (NASDAQ:IREN - Get Free Report) last posted its quarterly earnings data 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 net margin of 17.94% and a negative return on equity of 3.98%. As a group, equities analysts forecast that Iris Energy Limited will post 0.43 earnings per share for the current fiscal year.
Iris Energy Profile
(
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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