Stratos Wealth Advisors LLC Purchases Shares of 80,383 Iris Energy Limited (NASDAQ:IREN)

Stratos Wealth Advisors LLC purchased a new position in Iris Energy Limited (NASDAQ:IREN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 80,383 shares of the company's stock, valued at approximately $789,000.

Other hedge funds have also bought and sold shares of the company. Truist Financial Corp increased its holdings in shares of Iris Energy by 3.2% in the 2nd quarter. Truist Financial Corp now owns 51,575 shares of the company's stock worth $582,000 after buying an additional 1,575 shares during the last quarter. Sippican Capital Advisors increased its holdings in shares of Iris Energy by 15.1% in the 4th quarter. Sippican Capital Advisors now owns 12,780 shares of the company's stock worth $126,000 after buying an additional 1,680 shares during the last quarter. Drive Wealth Management LLC increased its holdings in shares of Iris Energy by 5.8% in the 4th quarter. Drive Wealth Management LLC now owns 39,690 shares of the company's stock worth $390,000 after buying an additional 2,193 shares during the last quarter. R Squared Ltd bought a new stake in shares of Iris Energy in the 4th quarter worth about $37,000. Finally, Evolution Wealth Advisors LLC increased its holdings in shares of Iris Energy by 8.7% in the 4th quarter. Evolution Wealth Advisors LLC now owns 47,880 shares of the company's stock worth $470,000 after buying an additional 3,830 shares during the last quarter. Hedge funds and other institutional investors own 41.08% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on IREN. HC Wainwright upped their price target on shares of Iris Energy from $13.00 to $16.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $15.00 price target (up from $9.50) on shares of Iris Energy in a report on Tuesday, December 10th. B. Riley upped 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. Needham & Company LLC reiterated a "hold" rating on shares of Iris Energy in a report on Wednesday, November 27th. Finally, 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 target on the stock. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Iris Energy has an average rating of "Moderate Buy" and an average price target of $19.50.

Iris Energy Price Performance

Shares of IREN traded up $0.34 during mid-day trading on Monday, hitting $12.81. The company's stock had a trading volume of 8,921,658 shares, compared to its average volume of 16,818,514. The company's 50-day moving average is $11.75 and its 200-day moving average is $9.88. Iris Energy Limited has a 52-week low of $4.15 and a 52-week high of $15.92.

Iris Energy (NASDAQ:IREN - Get Free Report) last announced its quarterly earnings results on Tuesday, November 26th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate 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%. Equities analysts predict that Iris Energy Limited will post 0.11 earnings per share for the current fiscal year.

About Iris Energy

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