Sippican Capital Advisors Grows Stock Holdings in Iris Energy Limited (NASDAQ:IREN)

Sippican Capital Advisors lifted its stake in shares of Iris Energy Limited (NASDAQ:IREN) by 15.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,780 shares of the company’s stock after acquiring an additional 1,680 shares during the quarter. Sippican Capital Advisors’ holdings in Iris Energy were worth $126,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IREN. Baader Bank Aktiengesellschaft raised its position in Iris Energy by 66.7% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 125,000 shares of the company’s stock valued at $1,228,000 after purchasing an additional 50,000 shares in the last quarter. R Squared Ltd purchased a new position in shares of Iris Energy during the fourth quarter valued at $37,000. TRU Independence Asset Management 2 LLC bought a new stake in shares of Iris Energy in the fourth quarter valued at about $163,000. Drive Wealth Management LLC lifted its stake in Iris Energy by 5.8% in the fourth quarter. Drive Wealth Management LLC now owns 39,690 shares of the company’s stock worth $390,000 after acquiring an additional 2,193 shares during the period. Finally, Evolution Wealth Advisors LLC grew its holdings in Iris Energy by 8.7% during the 4th quarter. Evolution Wealth Advisors LLC now owns 47,880 shares of the company’s stock worth $470,000 after acquiring an additional 3,830 shares in the last quarter. Institutional investors own 41.08% of the company’s stock.

Iris Energy Price Performance

Shares of Iris Energy stock opened at $9.98 on Thursday. Iris Energy Limited has a 1 year low of $3.56 and a 1 year high of $15.92. The firm has a fifty day moving average price of $11.79 and a 200 day moving average price of $9.90.

Iris Energy (NASDAQ:IREN) last issued its quarterly earnings data on Tuesday, November 26th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.11). Iris Energy had a negative net margin of 36.10% and a negative return on equity of 8.01%. As a group, equities analysts expect that Iris Energy Limited will post 0.12 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. HC Wainwright upped their target price on Iris Energy from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. B. Riley upped their price objective on Iris Energy from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $15.00 target price (up previously from $9.50) on shares of Iris Energy in a research note on Tuesday, December 10th. Cantor Fitzgerald increased their price target on shares of Iris Energy from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Finally, Canaccord Genuity Group boosted their price objective on shares of Iris Energy from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $19.50.

Iris Energy Company Profile

Iris Energy Limited owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.