Vident Advisory LLC increased its position in Iris Energy Limited (NASDAQ:IREN - Free Report) by 26.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,937,918 shares of the company's stock after acquiring an additional 608,736 shares during the period. Vident Advisory LLC owned about 1.56% of Iris Energy worth $28,850,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership raised its stake in Iris Energy by 1,307.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,684,836 shares of the company's stock valued at $55,825,000 after buying an additional 5,280,999 shares during the last quarter. Invesco Ltd. raised its stake in Iris Energy by 22.5% during the 4th quarter. Invesco Ltd. now owns 2,311,583 shares of the company's stock valued at $22,700,000 after buying an additional 424,403 shares during the last quarter. Regal Partners Ltd raised its stake in Iris Energy by 93.9% during the 4th quarter. Regal Partners Ltd now owns 1,697,554 shares of the company's stock valued at $16,670,000 after buying an additional 822,251 shares during the last quarter. Two Sigma Investments LP raised its stake in Iris Energy by 193.2% during the 4th quarter. Two Sigma Investments LP now owns 1,602,642 shares of the company's stock valued at $15,738,000 after buying an additional 1,056,005 shares during the last quarter. Finally, Discovery Capital Management LLC CT purchased a new stake in Iris Energy during the 4th quarter valued at $11,544,000. 41.08% of the stock is currently owned by hedge funds and other institutional investors.
Iris Energy Stock Up 4.4%
Shares of NASDAQ:IREN traded up $0.39 during trading on Thursday, reaching $9.28. The company's stock had a trading volume of 21,349,347 shares, compared to its average volume of 16,206,122. Iris Energy Limited has a 12 month low of $5.13 and a 12 month high of $15.92. The firm's 50 day simple moving average is $6.60 and its two-hundred day simple moving average is $9.50.
Iris Energy (NASDAQ:IREN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.06). The firm had revenue of $148.10 million during the quarter, compared to the consensus estimate of $153.38 million. Iris Energy had a negative return on equity of 3.98% and a negative net margin of 17.94%. As a group, equities research analysts predict that Iris Energy Limited will post 0.43 earnings per share for the current year.
Analyst Ratings Changes
A number of equities analysts recently issued reports on IREN shares. Canaccord Genuity Group reissued a "buy" rating and issued a $23.00 price objective on shares of Iris Energy in a report on Friday, May 16th. Wall Street Zen lowered Iris Energy from a "hold" rating to a "sell" rating in a research note on Thursday. HC Wainwright reduced their price objective on Iris Energy from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Thursday, May 15th. Macquarie upped their price objective on Iris Energy from $15.50 to $20.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Finally, JPMorgan Chase & Co. upgraded 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. 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $20.30.
Get Our Latest Stock Report on IREN
Iris Energy Profile
(
Free Report)
Iris Energy Limited owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.
See Also
Before you consider Iris Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Iris Energy wasn't on the list.
While Iris Energy currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
