Aristeia Capital L.L.C. Acquires Shares of 290,023 Iris Energy Limited (NASDAQ:IREN)

Aristeia Capital L.L.C. acquired a new position in Iris Energy Limited (NASDAQ:IREN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 290,023 shares of the company's stock, valued at approximately $2,848,000. Aristeia Capital L.L.C. owned about 0.15% of Iris Energy at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in IREN. Arrowstreet Capital Limited Partnership lifted its stake in Iris Energy by 1,307.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,684,836 shares of the company's stock worth $55,825,000 after purchasing an additional 5,280,999 shares during the last quarter. Discovery Capital Management LLC CT bought a new position in Iris Energy in the fourth quarter worth about $11,544,000. Regal Partners Ltd boosted its position in shares of Iris Energy by 93.9% during the fourth quarter. Regal Partners Ltd now owns 1,697,554 shares of the company's stock valued at $16,670,000 after purchasing an additional 822,251 shares in the last quarter. Two Seas Capital LP boosted its holdings in shares of Iris Energy by 212.7% during the 4th quarter. Two Seas Capital LP now owns 860,000 shares of the company's stock valued at $8,445,000 after buying an additional 585,000 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Iris Energy by 22.5% during the fourth quarter. Invesco Ltd. now owns 2,311,583 shares of the company's stock valued at $22,700,000 after purchasing an additional 424,403 shares during the last quarter. 41.08% of the stock is owned by institutional investors.

Iris Energy Price Performance

Shares of Iris Energy stock traded down $0.34 during trading hours 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. The business has a fifty day moving average of $6.52 and a two-hundred day moving average of $9.66. Iris Energy Limited has a 1 year low of $4.65 and a 1 year high of $15.92.

Iris Energy (NASDAQ:IREN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.09 EPS 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%. On average, equities analysts anticipate that Iris Energy Limited will post 0.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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