AQR Arbitrage LLC Buys New Holdings in Iris Energy Limited (NASDAQ:IREN)

AQR Arbitrage LLC acquired a new stake in Iris Energy Limited (NASDAQ:IREN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 100,541 shares of the company's stock, valued at approximately $987,000. AQR Arbitrage LLC owned approximately 0.05% of Iris Energy at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new stake in shares of Iris Energy in the fourth quarter valued at approximately $29,000. HM Payson & Co. acquired a new stake in shares of Iris Energy in the 4th quarter worth $30,000. R Squared Ltd acquired a new stake in shares of Iris Energy in the 4th quarter worth $37,000. Tower Research Capital LLC TRC raised its holdings in shares of Iris Energy by 1,059.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,368 shares of the company's stock worth $82,000 after acquiring an additional 7,646 shares during the period. Finally, World Equity Group Inc. acquired a new position in shares of Iris Energy during the 4th quarter valued at about $98,000. Hedge funds and other institutional investors own 41.08% of the company's stock.

Iris Energy Stock Down 5.2 %

NASDAQ:IREN traded down $0.34 on Monday, reaching $6.19. 8,066,866 shares of the company's stock were exchanged, compared to its average volume of 15,797,624. Iris Energy Limited has a 52-week low of $4.65 and a 52-week high of $15.92. The business has a fifty day moving average of $6.57 and a 200-day moving average of $9.68.

Iris Energy (NASDAQ:IREN - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $0.09 earnings per share (EPS) for the quarter, topping 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%. Analysts predict that Iris Energy Limited will post 0.43 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $23.00 target price on shares of Iris Energy in a report on Thursday, February 13th. Needham & Company LLC reiterated a "hold" rating on shares of Iris Energy in a report on Thursday, February 13th. JPMorgan Chase & Co. raised Iris Energy from a "neutral" rating to an "overweight" rating and cut their target price for the stock from $15.00 to $12.00 in a research note on Thursday, March 13th. HC Wainwright upped their price target on Iris Energy from $16.00 to $22.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Finally, Canaccord Genuity Group raised their price objective on Iris Energy from $17.00 to $23.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average 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.