TENOR CAPITAL MANAGEMENT Co. L.P. Acquires Shares of 154,679 Iris Energy Limited (NASDAQ:IREN)

TENOR CAPITAL MANAGEMENT Co. L.P. bought a new position in shares of Iris Energy Limited (NASDAQ:IREN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 154,679 shares of the company's stock, valued at approximately $1,519,000. TENOR CAPITAL MANAGEMENT Co. L.P. owned 0.08% of Iris Energy at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in IREN. Baader Bank Aktiengesellschaft grew its stake in Iris Energy by 66.7% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 125,000 shares of the company's stock valued at $1,228,000 after acquiring an additional 50,000 shares during the period. Vontobel Holding Ltd. grew its position in Iris Energy by 13.4% in the 4th quarter. Vontobel Holding Ltd. now owns 55,923 shares of the company's stock valued at $549,000 after purchasing an additional 6,601 shares during the period. JPMorgan Chase & Co. bought a new stake in Iris Energy during the 4th quarter valued at $587,000. Private Advisor Group LLC acquired a new position in Iris Energy during the fourth quarter worth $120,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Iris Energy by 1,059.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,368 shares of the company's stock valued at $82,000 after buying an additional 7,646 shares in the last quarter. 41.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on IREN shares. B. Riley boosted their target price on shares of Iris Energy from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Canaccord Genuity Group reissued a "buy" rating and set a $23.00 price objective on shares of Iris Energy in a report on Friday, May 16th. Macquarie raised their target price on Iris Energy from $15.50 to $20.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. HC Wainwright reduced their price objective on shares of Iris Energy from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Thursday, May 15th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $23.00 price objective on shares of Iris Energy in a research note on Thursday, February 13th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $20.30.

Iris Energy Stock Up 3.3%

Shares of IREN stock traded up $0.28 during trading on Wednesday, hitting $8.89. The company had a trading volume of 20,497,435 shares, compared to its average volume of 16,175,876. The stock's 50-day moving average is $6.56 and its two-hundred day moving average is $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 quarterly earnings data on Wednesday, May 14th. The company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.06). The company had revenue of $148.10 million for the quarter, compared to analysts' expectations of $153.38 million. Iris Energy had a negative net margin of 17.94% and a negative return on equity of 3.98%. Sell-side analysts predict that Iris Energy Limited will post 0.43 EPS 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.