75,561 Shares in Iris Energy Limited (NASDAQ:IREN) Acquired by BW Gestao de Investimentos Ltda.

BW Gestao de Investimentos Ltda. purchased a new stake in shares of Iris Energy Limited (NASDAQ:IREN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 75,561 shares of the company's stock, valued at approximately $742,000.

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

Analysts Set New Price Targets

IREN has been the topic of a number of research reports. JPMorgan Chase & Co. upgraded shares of Iris Energy from a "neutral" rating to an "overweight" rating and reduced their price target for the company from $15.00 to $12.00 in a report on Thursday, March 13th. HC Wainwright increased 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. Cantor Fitzgerald restated an "overweight" rating and set a $23.00 price target on shares of Iris Energy in a report on Thursday, February 13th. Needham & Company LLC reaffirmed a "hold" rating on shares of Iris Energy in a report on Thursday, February 13th. Finally, Canaccord Genuity Group raised their target price on shares of Iris Energy from $17.00 to $23.00 and gave the company a "buy" rating in a report on Thursday, February 13th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $20.40.

Iris Energy Stock Performance

NASDAQ:IREN traded up $0.07 during mid-day trading on Wednesday, hitting $6.57. 8,275,914 shares of the stock traded hands, compared to its average volume of 15,811,359. Iris Energy Limited has a 52 week low of $4.65 and a 52 week high of $15.92. The firm's 50 day moving average is $6.46 and its two-hundred day moving average is $9.61.

Iris Energy (NASDAQ:IREN - Get Free Report) last issued its quarterly 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 return on equity of 3.98% and a negative net margin of 17.94%. Research analysts predict that Iris Energy Limited will post 0.43 EPS 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.