Invesco Ltd. increased its position in shares of Iris Energy Limited (NASDAQ:IREN - Free Report) by 22.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,311,583 shares of the company's stock after purchasing an additional 424,403 shares during the period. Invesco Ltd. owned 1.23% of Iris Energy worth $22,700,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Polymer Capital Management HK LTD increased its stake in Iris Energy by 147.8% in the fourth quarter. Polymer Capital Management HK LTD now owns 297,328 shares of the company's stock valued at $2,920,000 after purchasing an additional 177,328 shares during the period. Peapack Gladstone Financial Corp purchased a new stake in shares of Iris Energy in the fourth quarter valued at $137,000. Hel Ved Capital Management Ltd boosted its stake in shares of Iris Energy by 196.1% during the 4th quarter. Hel Ved Capital Management Ltd now owns 395,800 shares of the company's stock worth $3,887,000 after purchasing an additional 262,150 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Iris Energy by 54.7% in the 4th quarter. Wells Fargo & Company MN now owns 272,398 shares of the company's stock worth $2,675,000 after buying an additional 96,358 shares during the last quarter. Finally, ExodusPoint Capital Management LP purchased a new position in shares of Iris Energy in the 4th quarter worth $1,725,000. 41.08% of the stock is owned by hedge funds and other institutional investors.
Iris Energy Stock Performance
Shares of Iris Energy stock traded up $0.14 during trading on Thursday, hitting $6.24. The stock had a trading volume of 3,993,293 shares, compared to its average volume of 15,540,713. The stock has a 50 day simple moving average of $7.30 and a 200 day simple moving average of $9.75. Iris Energy Limited has a 1 year low of $4.15 and a 1 year high of $15.92.
Iris Energy (NASDAQ:IREN - Get Free Report) last posted its quarterly earnings results 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 net margin of 17.94% and a negative return on equity of 3.98%. As a group, equities research analysts predict that Iris Energy Limited will post 0.43 EPS for the current year.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on IREN. Needham & Company LLC restated a "hold" rating on shares of Iris Energy in a research note on Thursday, February 13th. HC Wainwright boosted their target price on shares of Iris Energy from $16.00 to $22.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Canaccord Genuity Group upped their price objective on Iris Energy from $17.00 to $23.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. upgraded Iris Energy from a "neutral" rating to an "overweight" rating and lowered their price target for the company from $15.00 to $12.00 in a report on Thursday, March 13th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $23.00 price objective on shares of Iris Energy in a report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $20.40.
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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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