440,276 Shares in Iris Energy Limited (NASDAQ:IREN) Bought by Twinbeech Capital LP

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

Other institutional investors also recently modified their holdings of the company. Baader Bank Aktiengesellschaft raised its stake in shares of Iris Energy by 66.7% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 125,000 shares of the company's stock worth $1,228,000 after acquiring an additional 50,000 shares during the last quarter. Vontobel Holding Ltd. raised its stake in shares of 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 acquiring an additional 6,601 shares during the last quarter. JPMorgan Chase & Co. bought a new position in shares of Iris Energy in the fourth quarter worth about $587,000. Private Advisor Group LLC bought a new stake in shares of Iris Energy during the fourth quarter worth approximately $120,000. Finally, Tower Research Capital LLC TRC raised its stake 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 buying an additional 7,646 shares during the last quarter. 41.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on IREN. Canaccord Genuity Group reissued a "buy" rating and set a $23.00 price target on shares of Iris Energy in a research note on Friday, May 16th. Macquarie boosted 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, May 15th. Wall Street Zen downgraded shares of Iris Energy from a "hold" rating to a "sell" rating in a research note on Thursday. JPMorgan Chase & Co. raised shares of Iris Energy from a "neutral" rating to an "overweight" rating and dropped their price target for the stock from $15.00 to $12.00 in a research note on Thursday, March 13th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $23.00 price target on shares of Iris Energy in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $20.30.

Iris Energy Stock Down 1.7%

Shares of Iris Energy stock traded down $0.16 on Friday, hitting $9.12. The company had a trading volume of 14,973,969 shares, compared to its average volume of 16,224,448. Iris Energy Limited has a twelve month low of $5.13 and a twelve month high of $15.92. The stock has a 50-day moving average of $6.68 and a 200-day moving average of $9.51.

Iris Energy (NASDAQ:IREN - Get Free Report) last released its quarterly earnings results 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). The company had revenue of $148.10 million during the quarter, compared to analyst estimates 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 research analysts anticipate that Iris Energy Limited will post 0.43 EPS for the current fiscal 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.