Iris Energy Limited (NASDAQ:IREN) Shares Acquired by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft boosted its position in shares of Iris Energy Limited (NASDAQ:IREN - Free Report) by 66.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,000 shares of the company's stock after purchasing an additional 50,000 shares during the period. Baader Bank Aktiengesellschaft owned approximately 0.07% of Iris Energy worth $1,228,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Truist Financial Corp grew its holdings in Iris Energy by 3.2% during the 2nd quarter. Truist Financial Corp now owns 51,575 shares of the company's stock valued at $582,000 after purchasing an additional 1,575 shares in the last quarter. Drive Wealth Management LLC grew its holdings in Iris Energy by 5.8% during the 4th quarter. Drive Wealth Management LLC now owns 39,690 shares of the company's stock worth $390,000 after acquiring an additional 2,193 shares in the last quarter. R Squared Ltd acquired a new position in Iris Energy during the 4th quarter worth $37,000. Evolution Wealth Advisors LLC grew its holdings in Iris Energy by 8.7% during the 4th quarter. Evolution Wealth Advisors LLC now owns 47,880 shares of the company's stock worth $470,000 after acquiring an additional 3,830 shares in the last quarter. Finally, Chesapeake Capital Corp IL grew its holdings in Iris Energy by 27.9% during the 3rd quarter. Chesapeake Capital Corp IL now owns 17,695 shares of the company's stock worth $157,000 after acquiring an additional 3,861 shares in the last quarter. 41.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on IREN shares. BTIG Research began coverage on shares of Iris Energy in a report on Friday, December 20th. They set a "buy" rating and a $33.00 price objective for the company. Canaccord Genuity Group lifted their price target on shares of Iris Energy from $15.00 to $17.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Macquarie lifted their price target on shares of Iris Energy from $13.50 to $19.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. B. Riley lifted their price target on shares of Iris Energy from $15.00 to $16.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $15.00 price target (up from $9.50) on shares of Iris Energy in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $19.50.

Iris Energy Trading Up 6.0 %

Iris Energy stock traded up $0.60 during midday trading on Thursday, reaching $10.58. 10,666,557 shares of the stock traded hands, compared to its average volume of 17,288,502. The firm has a fifty day moving average price of $11.79 and a two-hundred day moving average price of $9.90. Iris Energy Limited has a fifty-two week low of $3.56 and a fifty-two week high of $15.92.

Iris Energy (NASDAQ:IREN - Get Free Report) last issued its quarterly earnings results on Tuesday, November 26th. The company reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.11). Iris Energy had a negative return on equity of 8.01% and a negative net margin of 36.10%. Sell-side analysts expect that Iris Energy Limited will post 0.12 earnings per share for the current year.

Iris Energy Company Profile

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