X Square Capital LLC grew its position in Iris Energy Limited (NASDAQ:IREN - Free Report) by 87.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 168,990 shares of the company's stock after purchasing an additional 78,990 shares during the quarter. X Square Capital LLC owned about 0.09% of Iris Energy worth $1,659,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Sippican Capital Advisors lifted its position in shares of Iris Energy by 15.1% during the 4th quarter. Sippican Capital Advisors now owns 12,780 shares of the company's stock valued at $126,000 after acquiring an additional 1,680 shares during the period. Drive Wealth Management LLC raised its position 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 valued at $390,000 after buying an additional 2,193 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Iris Energy during the 4th quarter worth approximately $29,000. HM Payson & Co. acquired a new stake in shares of Iris Energy during the 4th quarter worth approximately $30,000. Finally, R Squared Ltd bought a new position in Iris Energy in the fourth quarter valued at approximately $37,000. 41.08% of the stock is currently owned by institutional investors.
Iris Energy Stock Performance
IREN traded up $0.41 during trading on Tuesday, hitting $6.50. 8,156,423 shares of the company's stock were exchanged, compared to its average volume of 15,163,594. Iris Energy Limited has a fifty-two week low of $4.15 and a fifty-two week high of $15.92. The business's 50 day moving average is $9.49 and its two-hundred day moving average is $10.10.
Iris Energy (NASDAQ:IREN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.09 EPS for the quarter, topping 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%. On average, analysts expect that Iris Energy Limited will post 0.43 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of brokerages have weighed in on IREN. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $23.00 target price on shares of Iris Energy in a report on Thursday, February 13th. B. Riley boosted their target price on Iris Energy from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Canaccord Genuity Group raised their price target on shares of Iris Energy from $17.00 to $23.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Macquarie lifted their price target on shares of Iris Energy from $13.50 to $19.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. raised shares of Iris Energy from a "neutral" rating to an "overweight" rating and dropped their price objective for the company from $15.00 to $12.00 in a research note on Thursday, March 13th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $20.40.
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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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