Twinbeech Capital LP Takes $4.32 Million Position in Iris Energy Limited (NASDAQ:IREN)

Twinbeech Capital LP bought a new stake in Iris Energy Limited (NASDAQ:IREN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 440,276 shares of the company's stock, valued at approximately $4,324,000. Twinbeech Capital LP owned approximately 0.23% of Iris Energy at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IREN. Baader Bank Aktiengesellschaft raised its stake in shares of Iris Energy by 66.7% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 125,000 shares of the company's stock valued at $1,228,000 after buying an additional 50,000 shares in the last quarter. Vontobel Holding Ltd. raised its position in Iris Energy by 13.4% in the fourth quarter. Vontobel Holding Ltd. now owns 55,923 shares of the company's stock worth $549,000 after purchasing an additional 6,601 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in Iris Energy during the fourth quarter valued at approximately $587,000. Private Advisor Group LLC bought a new stake in shares of Iris Energy in the 4th quarter valued at approximately $120,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Iris Energy by 1,059.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,368 shares of the company's stock worth $82,000 after buying an additional 7,646 shares in the last quarter. 41.08% of the stock is owned by institutional investors.

Iris Energy Stock Performance

IREN traded down $0.16 during trading on Monday, hitting $9.12. The stock had a trading volume of 14,973,969 shares, compared to its average volume of 16,215,075. Iris Energy Limited has a one year low of $5.13 and a one year high of $15.92. The company has a 50 day moving average price of $6.68 and a 200-day moving average price of $9.49.

Iris Energy (NASDAQ:IREN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.06). Iris Energy had a negative return on equity of 3.98% and a negative net margin of 17.94%. The firm had revenue of $148.10 million for the quarter, compared to the consensus estimate of $153.38 million. Research analysts expect that Iris Energy Limited will post 0.43 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. HC Wainwright lowered their price target on Iris Energy from $22.00 to $21.00 and set a "buy" rating on the stock in a research report on Thursday, May 15th. Canaccord Genuity Group reiterated a "buy" rating and issued a $23.00 price objective on shares of Iris Energy in a research report on Friday, May 16th. B. Riley lifted their price objective on Iris Energy from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Macquarie boosted their price objective on shares of Iris Energy from $15.50 to $20.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. Finally, Wall Street Zen downgraded Iris Energy from a "hold" rating to a "sell" rating in a report on Thursday. One research analyst has rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Iris Energy has an average rating of "Moderate Buy" and a consensus price target of $20.30.

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.