Polymer Capital Management HK LTD Increases Stock Position in Iris Energy Limited (NASDAQ:IREN)

Polymer Capital Management HK LTD raised its holdings in Iris Energy Limited (NASDAQ:IREN - Free Report) by 147.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 297,328 shares of the company's stock after purchasing an additional 177,328 shares during the period. Polymer Capital Management HK LTD owned 0.16% of Iris Energy worth $2,920,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Baader Bank Aktiengesellschaft lifted its stake in Iris Energy by 66.7% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 125,000 shares of the company's stock valued at $1,228,000 after buying an additional 50,000 shares in the last quarter. Vontobel Holding Ltd. lifted its position in shares of Iris Energy by 13.4% in the fourth quarter. Vontobel Holding Ltd. now owns 55,923 shares of the company's stock valued at $549,000 after acquiring an additional 6,601 shares in the last quarter. Main Management ETF Advisors LLC acquired a new stake in shares of Iris Energy during the third quarter valued at $760,000. Private Advisor Group LLC acquired a new position in Iris Energy in the 4th quarter valued at about $120,000. Finally, Geode Capital Management LLC lifted its holdings in Iris Energy by 56.3% in the 3rd quarter. Geode Capital Management LLC now owns 735,071 shares of the company's stock valued at $6,204,000 after purchasing an additional 264,883 shares in the last quarter. 41.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on IREN. Cantor Fitzgerald reiterated an "overweight" rating and set a $23.00 price target on shares of Iris Energy in a report on Thursday, February 13th. HC Wainwright raised their price target on Iris Energy from $16.00 to $22.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. BTIG Research assumed coverage on shares of Iris Energy in a research note on Friday, December 20th. They set a "buy" rating and a $33.00 price objective for the company. JPMorgan Chase & Co. raised shares of Iris Energy from a "neutral" rating to an "overweight" rating and decreased their target price for the stock from $15.00 to $12.00 in a research report on Thursday, March 13th. Finally, Needham & Company LLC restated 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 issued a strong buy rating to the stock. According to data from MarketBeat, Iris Energy has an average rating of "Buy" and a consensus target price of $20.40.

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Iris Energy Stock Performance

Shares of IREN stock traded up $0.13 during mid-day trading on Friday, reaching $5.62. The company's stock had a trading volume of 6,251,358 shares, compared to its average volume of 15,329,429. The company's 50 day simple moving average is $8.48 and its 200-day simple moving average is $9.93. Iris Energy Limited has a 12-month low of $4.15 and a 12-month high of $15.92.

Iris Energy (NASDAQ:IREN - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.13. Iris Energy had a negative return on equity of 3.98% and a negative net margin of 17.94%. As a group, equities research analysts anticipate that Iris Energy Limited will post 0.43 EPS 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.