Ardsley Advisory Partners LP Sells 175,000 Shares of Iris Energy Limited (NASDAQ:IREN)

Ardsley Advisory Partners LP lessened its position in shares of Iris Energy Limited (NASDAQ:IREN - Free Report) by 28.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 450,000 shares of the company's stock after selling 175,000 shares during the period. Ardsley Advisory Partners LP owned approximately 0.24% of Iris Energy worth $4,419,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership increased its holdings in shares of 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 period. Discovery Capital Management LLC CT purchased a new stake in shares of Iris Energy in the 4th quarter valued at about $11,544,000. Regal Partners Ltd boosted its position in shares of Iris Energy by 93.9% during the 4th quarter. Regal Partners Ltd now owns 1,697,554 shares of the company's stock valued at $16,670,000 after acquiring an additional 822,251 shares during the last quarter. Two Seas Capital LP grew its holdings in shares of 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 purchasing an additional 585,000 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Iris Energy by 22.5% in the fourth quarter. Invesco Ltd. now owns 2,311,583 shares of the company's stock worth $22,700,000 after purchasing an additional 424,403 shares during the last quarter. 41.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on IREN shares. Needham & Company LLC reissued a "hold" rating on shares of Iris Energy in a research note on Thursday, February 13th. 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. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $23.00 price target on shares of Iris Energy in a research note on Thursday, February 13th. Canaccord Genuity Group increased 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. Finally, HC Wainwright upped their target price on Iris Energy from $16.00 to $22.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. One equities research 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 company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $20.40.

Iris Energy Trading Up 7.0 %

NASDAQ:IREN traded up $0.46 during midday trading on Thursday, reaching $7.03. 11,536,383 shares of the stock traded hands, compared to its average volume of 15,795,920. The company has a fifty day moving average of $6.46 and a 200 day moving average of $9.61. Iris Energy Limited has a 12 month low of $4.65 and a 12 month high of $15.92.

Iris Energy (NASDAQ:IREN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.09 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts predict that Iris Energy Limited will post 0.43 earnings per share for the current year.

Iris Energy Profile

Iris Energy Limited owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.