Hel Ved Capital Management Ltd lifted its stake in shares of Iris Energy Limited (NASDAQ:IREN - Free Report) by 196.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 395,800 shares of the company's stock after acquiring an additional 262,150 shares during the quarter. Iris Energy makes up 1.1% of Hel Ved Capital Management Ltd's holdings, making the stock its 27th biggest holding. Hel Ved Capital Management Ltd owned about 0.21% of Iris Energy worth $3,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership increased its position in shares of Iris Energy by 1,307.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,684,836 shares of the company's stock worth $55,825,000 after acquiring an additional 5,280,999 shares in the last quarter. Discovery Capital Management LLC CT purchased a new stake in Iris Energy during the 4th quarter worth about $11,544,000. Charles Schwab Investment Management Inc. boosted its holdings in Iris Energy by 96.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 710,890 shares of the company's stock valued at $6,981,000 after purchasing an additional 348,864 shares during the period. Geode Capital Management LLC grew its holdings in shares of Iris Energy by 56.3% during the third quarter. Geode Capital Management LLC now owns 735,071 shares of the company's stock worth $6,204,000 after purchasing an additional 264,883 shares in the last quarter. Finally, Calamos Advisors LLC purchased a new stake in Iris Energy during the fourth quarter valued at about $1,899,000. Institutional investors and hedge funds own 41.08% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently weighed in on IREN shares. JPMorgan Chase & Co. upgraded shares of Iris Energy from a "neutral" rating to an "overweight" rating and dropped their target price for the stock from $15.00 to $12.00 in a report on Thursday, March 13th. B. Riley upped their price objective on Iris Energy from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. 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. BTIG Research assumed coverage on Iris Energy in a research note on Friday, December 20th. They set a "buy" rating and a $33.00 price objective for the company. Finally, Needham & Company LLC reissued a "hold" rating 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 issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $20.40.
View Our Latest Stock Analysis on IREN
Iris Energy Price Performance
Iris Energy stock traded down $0.52 during midday trading on Thursday, hitting $5.39. 9,507,914 shares of the stock were exchanged, compared to its average volume of 15,330,162. Iris Energy Limited has a fifty-two week low of $4.15 and a fifty-two week high of $15.92. The stock'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 released its quarterly earnings results on Wednesday, February 12th. The company reported $0.09 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts anticipate that Iris Energy Limited will post 0.43 earnings per share for the current year.
Iris Energy Company 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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