Trexquant Investment LP trimmed its position in Iris Energy Limited (NASDAQ:IREN - Free Report) by 41.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 401,453 shares of the company's stock after selling 284,539 shares during the period. Trexquant Investment LP owned 0.21% of Iris Energy worth $3,942,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the business. Arrowstreet Capital Limited Partnership grew its stake in shares of Iris Energy by 1,307.7% in 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 during the period. Charles Schwab Investment Management Inc. increased 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 acquiring an additional 348,864 shares during the last quarter. Geode Capital Management LLC boosted its stake in Iris Energy by 56.3% during the third quarter. Geode Capital Management LLC now owns 735,071 shares of the company's stock valued at $6,204,000 after buying an additional 264,883 shares during the last quarter. Calamos Advisors LLC purchased a new position in shares of Iris Energy in the fourth quarter valued at $1,899,000. Finally, Y Intercept Hong Kong Ltd raised its position in shares of Iris Energy by 592.2% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 206,706 shares of the company's stock valued at $1,745,000 after buying an additional 176,843 shares in the last quarter. 41.08% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on IREN. JPMorgan Chase & Co. upgraded Iris Energy from a "neutral" rating to an "overweight" rating and dropped their target price for the company from $15.00 to $12.00 in a research report on Thursday, March 13th. B. Riley raised their price target on shares of Iris Energy from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. HC Wainwright boosted their target price on shares of Iris Energy from $16.00 to $22.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. BTIG Research began coverage on Iris Energy in a report on Friday, December 20th. They set a "buy" rating and a $33.00 target price for the company. Finally, Canaccord Genuity Group lifted their target price on Iris Energy from $17.00 to $23.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. One equities research 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 MarketBeat, Iris Energy presently has an average rating of "Buy" and a consensus price target of $20.40.
Get Our Latest Analysis on IREN
Iris Energy Trading Down 9.3 %
Shares of Iris Energy stock traded down $0.55 during trading hours on Thursday, hitting $5.35. The company had a trading volume of 6,535,786 shares, compared to its average volume of 15,320,506. The company's 50-day moving average is $8.59 and its two-hundred day moving average is $9.96. Iris Energy Limited has a twelve month low of $4.15 and a twelve month high of $15.92.
Iris Energy (NASDAQ:IREN - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $0.09 EPS for the quarter, topping analysts' consensus estimates 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%. On average, equities analysts forecast that Iris Energy Limited will post 0.43 EPS for the current fiscal year.
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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