MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $8.49 Million Holdings in Iris Energy Limited (NASDAQ:IREN)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its holdings in Iris Energy Limited (NASDAQ:IREN - Free Report) by 51.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 864,798 shares of the company's stock after selling 901,627 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.46% of Iris Energy worth $8,492,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Lazard Asset Management LLC boosted its holdings in Iris Energy by 77,314.0% in the 4th quarter. Lazard Asset Management LLC now owns 77,414 shares of the company's stock valued at $760,000 after purchasing an additional 77,314 shares during the period. Lighthouse Investment Partners LLC bought a new stake in Iris Energy in the 4th quarter valued at about $923,000. FWL Investment Management LLC bought a new stake in Iris Energy in the 4th quarter valued at about $2,342,000. D. E. Shaw & Co. Inc. bought a new stake in Iris Energy in the 4th quarter valued at about $7,162,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Iris Energy in the 4th quarter valued at about $1,964,000. Institutional investors own 41.08% of the company's stock.

Analyst Upgrades and Downgrades

IREN has been the subject of a number of recent research reports. HC Wainwright cut their price objective on shares of Iris Energy from $22.00 to $21.00 and set a "buy" rating for the company in a report on Thursday, May 15th. B. Riley boosted their price objective on shares of Iris Energy from $14.00 to $15.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Needham & Company LLC reaffirmed a "hold" rating on shares of Iris Energy in a report on Thursday, February 13th. Cantor Fitzgerald reissued an "overweight" rating and issued a $23.00 price objective on shares of Iris Energy in a research note on Thursday, February 13th. Finally, Wall Street Zen downgraded shares of Iris Energy from a "hold" rating to a "sell" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $20.30.

Iris Energy Stock Down 1.7%

NASDAQ IREN traded down $0.16 on Friday, hitting $9.12. 14,973,969 shares of the company's stock were exchanged, compared to its average volume of 16,224,448. The stock has a 50-day moving average of $6.68 and a 200-day moving average of $9.51. 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 released its 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 business had revenue of $148.10 million for 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%. Equities analysts expect that Iris Energy Limited will post 0.43 earnings per share for the current fiscal year.

About Iris Energy

Iris Energy Limited owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.