D. E. Shaw & Co. Inc. Makes New $7.16 Million Investment in Iris Energy Limited (NASDAQ:IREN)

D. E. Shaw & Co. Inc. acquired a new stake in shares of Iris Energy Limited (NASDAQ:IREN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 729,365 shares of the company's stock, valued at approximately $7,162,000. D. E. Shaw & Co. Inc. owned approximately 0.39% of Iris Energy as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IREN. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Iris Energy during the fourth quarter worth $1,964,000. Concentric Capital Strategies LP bought a new stake in Iris Energy in the 4th quarter valued at $552,000. Crestline Management LP bought a new stake in shares of Iris Energy in the 4th quarter worth about $163,000. CastleKnight Management LP grew its holdings in shares of Iris Energy by 31.3% in the 4th quarter. CastleKnight Management LP now owns 679,800 shares of the company's stock worth $6,676,000 after purchasing an additional 162,000 shares during the last quarter. Finally, Cantor Fitzgerald L. P. grew its holdings in shares of Iris Energy by 103.7% in the 4th quarter. Cantor Fitzgerald L. P. now owns 146,382 shares of the company's stock worth $1,437,000 after purchasing an additional 74,513 shares during the last quarter. 41.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on IREN shares. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $23.00 target price on shares of Iris Energy in a report on Friday. HC Wainwright lowered their target price on Iris Energy from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Thursday. Macquarie raised their price target on shares of Iris Energy from $15.50 to $20.00 and gave the stock an "outperform" rating in a research note on Thursday. B. Riley increased their price objective on Iris Energy from $14.00 to $15.00 and gave the company a "buy" rating in a report on Thursday. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $23.00 price target 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 assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $20.30.

Iris Energy Price Performance

Shares of NASDAQ IREN traded up $0.13 during midday trading on Monday, hitting $8.54. 15,890,738 shares of the stock traded hands, compared to its average volume of 16,187,319. The firm has a 50-day moving average of $6.49 and a two-hundred day moving average of $9.52. Iris Energy Limited has a one year low of $5.13 and a one year high of $15.92.

Iris Energy (NASDAQ:IREN - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.06). The business had revenue of $148.10 million for the quarter, compared to the consensus estimate of $153.38 million. Iris Energy had a negative net margin of 17.94% and a negative return on equity of 3.98%. On average, equities analysts predict 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.