Paloma Partners Management Co Takes Position in Iris Energy Limited (NASDAQ:IREN)

Paloma Partners Management Co bought a new position in shares of Iris Energy Limited (NASDAQ:IREN) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 324,500 shares of the company’s stock, valued at approximately $2,739,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AFG Fiduciary Services Limited Partnership acquired a new stake in Iris Energy in the 3rd quarter valued at about $77,000. Covestor Ltd bought a new stake in Iris Energy in the third quarter valued at approximately $87,000. Sippican Capital Advisors acquired a new stake in shares of Iris Energy in the third quarter valued at approximately $94,000. Bluefin Capital Management LLC bought a new position in shares of Iris Energy during the 2nd quarter worth approximately $113,000. Finally, Seven Eight Capital LP acquired a new position in shares of Iris Energy during the 2nd quarter worth approximately $146,000. 41.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on IREN shares. B. Riley reduced their price objective on shares of Iris Energy from $17.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Cantor Fitzgerald upped their price target on shares of Iris Energy from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Roth Mkm initiated coverage on shares of Iris Energy in a report on Wednesday, October 2nd. They issued a “buy” rating and a $14.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on Iris Energy from $11.00 to $9.50 and set an “overweight” rating for the company in a report on Friday, August 23rd. Finally, HC Wainwright increased their target price on Iris Energy from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $16.33.

Iris Energy Price Performance

Shares of NASDAQ:IREN opened at $13.51 on Monday. The business’s 50 day simple moving average is $9.63 and its 200 day simple moving average is $9.60. Iris Energy Limited has a 1 year low of $3.56 and a 1 year high of $15.75.

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.