100,000 Shares in Iris Energy Limited (NASDAQ:IREN) Purchased by SRN Advisors LLC

SRN Advisors LLC bought a new stake in shares of Iris Energy Limited (NASDAQ:IREN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 100,000 shares of the company’s stock, valued at approximately $982,000. SRN Advisors LLC owned about 0.05% of Iris Energy at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new position in Iris Energy in the 4th quarter worth approximately $29,000. R Squared Ltd bought a new position in shares of Iris Energy in the fourth quarter worth $37,000. World Equity Group Inc. acquired a new position in shares of Iris Energy during the fourth quarter valued at $98,000. Covestor Ltd bought a new stake in shares of Iris Energy during the third quarter valued at about $87,000. Finally, Sippican Capital Advisors acquired a new stake in Iris Energy in the third quarter worth about $94,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

Iris Energy Price Performance

Shares of Iris Energy stock opened at $8.49 on Thursday. Iris Energy Limited has a 1 year low of $4.15 and a 1 year high of $15.92. The stock has a 50-day moving average price of $11.29 and a 200 day moving average price of $10.16.

Iris Energy (NASDAQ:IREN) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.09 EPS for the quarter, beating 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%. On average, equities analysts forecast that Iris Energy Limited will post 0.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on IREN. Needham & Company LLC restated a “hold” rating on shares of Iris Energy in a research report on Thursday, February 13th. HC Wainwright raised their target price on shares of Iris Energy from $16.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. B. Riley lifted their price target on shares of Iris Energy from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Canaccord Genuity Group increased their price objective on Iris Energy from $17.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, BTIG Research began coverage on Iris Energy in a report on Friday, December 20th. They issued a “buy” rating and a $33.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.70.

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.