Cantor Fitzgerald L. P. Boosts Stock Position in Iris Energy Limited (NASDAQ:IREN)

Cantor Fitzgerald L. P. boosted its holdings in Iris Energy Limited (NASDAQ:IREN - Free Report) by 103.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 146,382 shares of the company's stock after purchasing an additional 74,513 shares during the quarter. Cantor Fitzgerald L. P. owned about 0.08% of Iris Energy worth $1,437,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Stonebridge Financial Group LLC acquired a new position in shares of Iris Energy during the fourth quarter worth approximately $29,000. HM Payson & Co. acquired a new position in Iris Energy during the fourth quarter worth $30,000. R Squared Ltd bought a new position in shares of Iris Energy in the fourth quarter valued at $37,000. Tower Research Capital LLC TRC grew its holdings 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 valued at $82,000 after buying an additional 7,646 shares during the last quarter. Finally, World Equity Group Inc. bought a new stake in shares of Iris Energy during the fourth quarter worth about $98,000. 41.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IREN. HC Wainwright boosted their price objective on Iris Energy from $16.00 to $22.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Cantor Fitzgerald reissued an "overweight" rating and issued a $23.00 price target on shares of Iris Energy in a research report on Thursday, February 13th. Canaccord Genuity Group lifted their price objective on shares of Iris Energy from $17.00 to $23.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. JPMorgan Chase & Co. upgraded shares of Iris Energy from a "neutral" rating to an "overweight" rating and lowered their target price for the company from $15.00 to $12.00 in a report on Thursday, March 13th. Finally, Needham & Company LLC restated a "hold" rating on shares of Iris Energy in a report on Thursday, February 13th. One equities 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, Iris Energy currently has an average rating of "Buy" and an average price target of $20.40.

Iris Energy Trading Up 4.9 %

Shares of NASDAQ:IREN traded up $0.32 during mid-day trading on Thursday, reaching $6.89. The company had a trading volume of 17,007,393 shares, compared to its average volume of 15,864,231. Iris Energy Limited has a one year low of $4.65 and a one year high of $15.92. The company's 50-day moving average price is $6.45 and its 200-day moving average price is $9.60.

Iris Energy (NASDAQ:IREN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.09 EPS for the quarter, beating 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%. Sell-side analysts expect 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.