Vident Advisory LLC Purchases 608,736 Shares of Iris Energy Limited (NASDAQ:IREN)

Vident Advisory LLC raised its position in Iris Energy Limited (NASDAQ:IREN - Free Report) by 26.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,937,918 shares of the company's stock after purchasing an additional 608,736 shares during the quarter. Vident Advisory LLC owned 1.56% of Iris Energy worth $28,850,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of IREN. XML Financial LLC bought a new position in Iris Energy in the fourth quarter valued at about $196,000. Evolution Wealth Advisors LLC raised its position in Iris Energy by 8.7% in the fourth quarter. Evolution Wealth Advisors LLC now owns 47,880 shares of the company's stock valued at $470,000 after purchasing an additional 3,830 shares during the last quarter. Drive Wealth Management LLC grew its stake in shares of Iris Energy by 5.8% in the fourth quarter. Drive Wealth Management LLC now owns 39,690 shares of the company's stock worth $390,000 after purchasing an additional 2,193 shares during the last quarter. TRU Independence Asset Management 2 LLC bought a new stake in shares of Iris Energy in the fourth quarter worth $163,000. Finally, R Squared Ltd bought a new stake in shares of Iris Energy in the fourth quarter worth $37,000. 41.08% of the stock is currently owned by institutional investors.

Iris Energy Stock Down 1.7%

Shares of Iris Energy stock traded down $0.16 on Friday, hitting $9.12. 14,973,969 shares of the company's stock traded hands, compared to its average volume of 16,224,448. Iris Energy Limited has a one year low of $5.13 and a one year high of $15.92. The company has a fifty day moving average of $6.68 and a two-hundred day moving average of $9.51.

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

Wall Street Analyst Weigh In

IREN has been the topic of several analyst reports. JPMorgan Chase & Co. raised shares of Iris Energy from a "neutral" rating to an "overweight" rating and reduced their price objective for the stock from $15.00 to $12.00 in a research note on Thursday, March 13th. Wall Street Zen cut shares of Iris Energy from a "hold" rating to a "sell" rating in a research note on Thursday. Macquarie boosted their price objective 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. 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. Finally, Needham & Company LLC restated a "hold" rating on shares of Iris Energy in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.