Paloma Partners Management Co Buys 218,940 Shares of Iris Energy Limited (NASDAQ:IREN)

Paloma Partners Management Co lifted its holdings in Iris Energy Limited (NASDAQ:IREN) by 67.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 543,440 shares of the company’s stock after buying an additional 218,940 shares during the quarter. Paloma Partners Management Co owned approximately 0.29% of Iris Energy worth $5,337,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Sippican Capital Advisors boosted its holdings 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 last quarter. Drive Wealth Management LLC boosted its holdings in shares of Iris Energy by 5.8% during the 4th quarter. Drive Wealth Management LLC now owns 39,690 shares of the company’s stock valued at $390,000 after acquiring an additional 2,193 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in shares of Iris Energy in the 4th quarter worth approximately $29,000. HM Payson & Co. bought a new position in shares of Iris Energy in the 4th quarter worth approximately $30,000. Finally, R Squared Ltd bought a new position in shares of Iris Energy in the 4th quarter worth approximately $37,000. 41.08% of the stock is owned by hedge funds and other institutional investors.

Iris Energy Stock Down 2.3 %

Shares of Iris Energy stock opened at $6.39 on Tuesday. The company has a fifty day moving average of $6.91 and a 200 day moving average of $9.75. Iris Energy Limited has a fifty-two week low of $4.15 and a fifty-two week high of $15.92.

Iris Energy (NASDAQ:IREN) last released its quarterly earnings data 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 net margin of 17.94% and a negative return on equity of 3.98%. On average, analysts anticipate that Iris Energy Limited will post 0.43 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IREN. Needham & Company LLC reiterated a “hold” rating on shares of Iris Energy in a research note on Thursday, February 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $23.00 price objective on shares of Iris Energy in a research note on Thursday, February 13th. Canaccord Genuity Group increased their price objective on shares of Iris Energy from $17.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. HC Wainwright increased their price objective on shares of Iris Energy from $16.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. upgraded shares of Iris Energy from a “neutral” rating to an “overweight” rating and decreased their target price for the stock 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $20.40.

Iris Energy Profile

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