DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Invests $1.96 Million in Iris Energy Limited (NASDAQ:IREN)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Iris Energy Limited (NASDAQ:IREN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 199,965 shares of the company's stock, valued at approximately $1,964,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned 0.11% of Iris Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership grew its holdings in 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 worth $55,825,000 after acquiring an additional 5,280,999 shares during the period. Discovery Capital Management LLC CT acquired a new position in Iris Energy during the fourth quarter worth about $11,544,000. Regal Partners Ltd grew its holdings in Iris Energy by 93.9% during the fourth quarter. Regal Partners Ltd now owns 1,697,554 shares of the company's stock worth $16,670,000 after acquiring an additional 822,251 shares during the period. Two Seas Capital LP grew its holdings in Iris Energy by 212.7% during the fourth quarter. Two Seas Capital LP now owns 860,000 shares of the company's stock worth $8,445,000 after acquiring an additional 585,000 shares during the period. Finally, Invesco Ltd. grew its holdings in Iris Energy by 22.5% during the fourth quarter. Invesco Ltd. now owns 2,311,583 shares of the company's stock worth $22,700,000 after acquiring an additional 424,403 shares during the period. 41.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IREN has been the topic of a number of analyst reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $23.00 price target on shares of Iris Energy in a research note on Thursday, February 13th. HC Wainwright lifted their price target on Iris Energy from $16.00 to $22.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. raised Iris Energy from a "neutral" rating to an "overweight" rating and dropped their price target for the stock from $15.00 to $12.00 in a research note on Thursday, March 13th. Canaccord Genuity Group lifted their target price on Iris Energy from $17.00 to $23.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Iris Energy in a research report on Thursday, February 13th. One research 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. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $20.40.

Iris Energy Stock Performance

NASDAQ:IREN traded down $0.15 during mid-day trading on Wednesday, hitting $7.97. 20,355,578 shares of the stock were exchanged, compared to its average volume of 16,109,958. The firm's 50-day simple moving average is $6.44 and its 200 day simple moving average is $9.56. Iris Energy Limited has a fifty-two week low of $4.84 and a fifty-two week high of $15.92.

Iris Energy (NASDAQ:IREN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.08). Iris Energy had a negative return on equity of 3.98% and a negative net margin of 17.94%. Research analysts anticipate that Iris Energy Limited will post 0.43 earnings per share for the current year.

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.