Two Seas Capital LP grew its holdings in shares of Iris Energy Limited (NASDAQ:IREN - Free Report) by 212.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 860,000 shares of the company's stock after acquiring an additional 585,000 shares during the period. Iris Energy accounts for approximately 0.7% of Two Seas Capital LP's investment portfolio, making the stock its 19th biggest holding. Two Seas Capital LP owned approximately 0.46% of Iris Energy worth $8,445,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership lifted its position in Iris Energy by 1,307.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,684,836 shares of the company's stock valued at $55,825,000 after acquiring an additional 5,280,999 shares in the last quarter. Discovery Capital Management LLC CT purchased a new position in Iris Energy in the fourth quarter valued at approximately $11,544,000. Invesco Ltd. increased its stake in shares of Iris Energy by 22.5% in the fourth quarter. Invesco Ltd. now owns 2,311,583 shares of the company's stock worth $22,700,000 after purchasing an additional 424,403 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Iris Energy by 96.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 710,890 shares of the company's stock worth $6,981,000 after acquiring an additional 348,864 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Iris Energy by 56.3% in the 3rd 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 during the period. 41.08% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on IREN. Cantor Fitzgerald restated an "overweight" rating and set a $23.00 price target on shares of Iris Energy in a research report on Thursday, February 13th. 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. Canaccord Genuity Group boosted their target price on Iris Energy from $17.00 to $23.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Needham & Company LLC reissued a "hold" rating on shares of Iris Energy in a research report on Thursday, February 13th. Finally, HC Wainwright boosted their target price on Iris Energy from $16.00 to $22.00 and gave the stock a "buy" rating 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $20.40.
Read Our Latest Stock Report on IREN
Iris Energy Stock Performance
Shares of NASDAQ IREN traded down $0.15 during trading on Monday, reaching $6.39. 10,510,752 shares of the company traded hands, compared to its average volume of 15,664,663. The firm has a 50 day simple moving average of $6.91 and a 200-day simple moving average of $9.75. 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 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 net margin of 17.94% and a negative return on equity of 3.98%. As a group, analysts anticipate that Iris Energy Limited will post 0.43 EPS for the current year.
About Iris Energy
(
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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