Iris Energy Limited (NASDAQ:IREN) Shares Acquired by Hel Ved Capital Management Ltd

Hel Ved Capital Management Ltd raised its position in shares of Iris Energy Limited (NASDAQ:IREN) by 196.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 395,800 shares of the company’s stock after purchasing an additional 262,150 shares during the period. Iris Energy accounts for approximately 1.1% of Hel Ved Capital Management Ltd’s holdings, making the stock its 27th biggest position. Hel Ved Capital Management Ltd owned approximately 0.21% of Iris Energy worth $3,887,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wells Fargo & Company MN grew its holdings in Iris Energy by 54.7% in the 4th quarter. Wells Fargo & Company MN now owns 272,398 shares of the company’s stock worth $2,675,000 after buying an additional 96,358 shares in the last quarter. ExodusPoint Capital Management LP bought a new position in shares of Iris Energy in the fourth quarter worth $1,725,000. Discovery Capital Management LLC CT acquired a new position in shares of Iris Energy during the fourth quarter valued at $11,544,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Iris Energy by 1,307.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,684,836 shares of the company’s stock valued at $55,825,000 after purchasing an additional 5,280,999 shares in the last quarter. Finally, Highbridge Capital Management LLC acquired a new stake in Iris Energy in the fourth quarter worth about $1,519,000. Institutional investors own 41.08% of the company’s stock.

Wall Street Analysts Forecast Growth

IREN has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $23.00 price target on shares of Iris Energy in a research note on Thursday, February 13th. Canaccord Genuity Group upped their target price on Iris Energy from $17.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. BTIG Research started coverage on Iris Energy in a research note on Friday, December 20th. They issued a “buy” rating and a $33.00 price objective on the stock. JPMorgan Chase & Co. raised Iris Energy from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $15.00 to $12.00 in a report on Thursday, March 13th. Finally, B. Riley upped their price target on shares of Iris Energy from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, December 19th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $20.40.

Iris Energy Price Performance

Shares of NASDAQ:IREN opened at $5.94 on Friday. The company’s fifty day moving average is $9.04 and its two-hundred day moving average is $10.03. Iris Energy Limited has a 12-month low of $4.15 and a 12-month high of $15.92.

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

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.