Lazard Asset Management LLC Increases Position in Iris Energy Limited (NASDAQ:IREN)

Lazard Asset Management LLC boosted its position in shares of Iris Energy Limited (NASDAQ:IREN - Free Report) by 77,314.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,414 shares of the company's stock after acquiring an additional 77,314 shares during the period. Lazard Asset Management LLC's holdings in Iris Energy were worth $760,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Lighthouse Investment Partners LLC acquired a new position in Iris Energy during the 4th quarter valued at about $923,000. FWL Investment Management LLC purchased a new stake in shares of Iris Energy during the fourth quarter worth about $2,342,000. D. E. Shaw & Co. Inc. purchased a new position in shares of Iris Energy in the 4th quarter valued at approximately $7,162,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Iris Energy during the 4th quarter worth approximately $1,964,000. Finally, Concentric Capital Strategies LP acquired a new position in Iris Energy during the 4th quarter valued at approximately $552,000. 41.08% of the stock is currently owned by institutional investors and hedge funds.

Iris Energy Price Performance

NASDAQ:IREN traded down $0.16 during trading hours on Monday, hitting $9.12. 14,973,969 shares of the stock were exchanged, compared to its average volume of 16,215,075. The firm's fifty day moving average price is $6.72 and its 200 day moving average price is $9.47. Iris Energy Limited has a 52-week low of $5.13 and a 52-week high of $15.92.

Iris Energy (NASDAQ:IREN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported $0.11 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 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, analysts expect that Iris Energy Limited will post 0.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IREN has been the subject of several research reports. JPMorgan Chase & Co. upgraded shares of Iris Energy from a "neutral" rating to an "overweight" rating and lowered their price objective for the stock from $15.00 to $12.00 in a research note on Thursday, March 13th. 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, May 15th. HC Wainwright decreased their target price on Iris Energy from $22.00 to $21.00 and set a "buy" rating for the company in a report on Thursday, May 15th. Macquarie increased their price target on shares of Iris Energy from $15.50 to $20.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Finally, Needham & Company LLC restated a "hold" rating 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $20.30.

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.