Schonfeld Strategic Advisors LLC Sells 3,484 Shares of Iris Energy Limited (NASDAQ:IREN)

Schonfeld Strategic Advisors LLC trimmed its stake in shares of Iris Energy Limited (NASDAQ:IREN) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 49,255 shares of the company’s stock after selling 3,484 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Iris Energy were worth $484,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Sippican Capital Advisors lifted its holdings in shares of Iris Energy by 15.1% in the fourth quarter. Sippican Capital Advisors now owns 12,780 shares of the company’s stock worth $126,000 after buying an additional 1,680 shares in the last quarter. Drive Wealth Management LLC boosted its holdings in 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 purchasing an additional 2,193 shares during the period. Stonebridge Financial Group LLC purchased a new position in shares of Iris Energy during the 4th quarter valued at $29,000. HM Payson & Co. bought a new position in shares of Iris Energy in the fourth quarter worth $30,000. Finally, R Squared Ltd bought a new stake in Iris Energy during the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 41.08% of the company’s stock.

Iris Energy Stock Up 2.3 %

Shares of NASDAQ:IREN opened at $7.05 on Friday. Iris Energy Limited has a 12 month low of $4.65 and a 12 month high of $15.92. The company has a 50-day moving average price of $6.44 and a 200-day moving average price of $9.59.

Iris Energy (NASDAQ:IREN) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.09 earnings per share 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%. Equities analysts expect that Iris Energy Limited will post 0.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IREN has been the topic of several recent analyst reports. HC Wainwright raised their price target on Iris Energy from $16.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Needham & Company LLC reissued a “hold” rating on shares of Iris Energy in a research note on Thursday, February 13th. Cantor Fitzgerald restated an “overweight” rating and set a $23.00 price objective on shares of Iris Energy in a research report on Thursday, February 13th. Canaccord Genuity Group upped their target price on shares of Iris Energy from $17.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. upgraded Iris Energy from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $15.00 to $12.00 in a research report on Thursday, March 13th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Iris Energy currently has a consensus rating of “Buy” and an average target price of $20.40.

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.