Wealth High Governance Capital Ltda Sells 75,561 Shares of Iris Energy Limited (NASDAQ:IREN)

Wealth High Governance Capital Ltda trimmed its holdings in Iris Energy Limited (NASDAQ:IREN - Free Report) by 37.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 124,439 shares of the company's stock after selling 75,561 shares during the quarter. Wealth High Governance Capital Ltda owned about 0.07% of Iris Energy worth $1,222,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new stake in Iris Energy in the fourth quarter worth about $29,000. HM Payson & Co. acquired a new stake in Iris Energy in the fourth quarter worth about $30,000. R Squared Ltd acquired a new stake in Iris Energy in the fourth quarter worth about $37,000. Covestor Ltd acquired a new position in shares of Iris Energy during the 3rd quarter worth about $87,000. Finally, World Equity Group Inc. acquired a new position in shares of Iris Energy during the 4th quarter worth about $98,000. 41.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. HC Wainwright boosted their target price on Iris Energy from $16.00 to $22.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Canaccord Genuity Group boosted their target price on Iris Energy from $17.00 to $23.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. restated a "neutral" rating and set a $15.00 target price (up from $9.50) on shares of Iris Energy in a research report on Tuesday, December 10th. BTIG Research assumed coverage on Iris Energy in a research report on Friday, December 20th. They set a "buy" rating and a $33.00 target price for the company. Finally, Needham & Company LLC restated a "hold" rating on shares of Iris Energy in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $20.70.

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Iris Energy Stock Performance

NASDAQ IREN opened at $7.05 on Wednesday. The stock's 50 day moving average price is $10.71 and its two-hundred day moving average price is $10.16. 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 released its earnings results 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%. Analysts anticipate that Iris Energy Limited will post 0.43 earnings per share for the current 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.

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