Thomist Capital Management LP Takes Position in Iris Energy Limited (NASDAQ:IREN)

Thomist Capital Management LP bought a new position in shares of Iris Energy Limited (NASDAQ:IREN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 139,000 shares of the company's stock, valued at approximately $1,382,000. Thomist Capital Management LP owned about 0.07% of Iris Energy at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Arrowstreet Capital Limited Partnership increased its position 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 worth $55,825,000 after purchasing an additional 5,280,999 shares in the last quarter. Discovery Capital Management LLC CT acquired a new position in shares of Iris Energy during the fourth quarter worth $11,544,000. Regal Partners Ltd increased its holdings in shares of Iris Energy by 93.9% during the fourth quarter. Regal Partners Ltd now owns 1,697,554 shares of the company's stock worth $16,670,000 after buying an additional 822,251 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new position in shares of Iris Energy in the 4th quarter valued at $7,162,000. Finally, Two Seas Capital LP grew its position in Iris Energy by 212.7% during the 4th quarter. Two Seas Capital LP now owns 860,000 shares of the company's stock worth $8,445,000 after acquiring an additional 585,000 shares during the last quarter. Institutional investors and hedge funds own 41.08% of the company's stock.

Analyst Ratings Changes

IREN has been the subject of several research reports. JPMorgan Chase & Co. upgraded Iris Energy from a "neutral" rating to an "overweight" rating and dropped their target price for the company from $15.00 to $12.00 in a research report on Thursday, March 13th. Macquarie upped their price objective on Iris Energy from $15.50 to $20.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Needham & Company LLC reiterated a "hold" rating on shares of Iris Energy in a research report on Thursday, February 13th. HC Wainwright reduced their target price on shares of Iris Energy from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Thursday, May 15th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $23.00 price target on shares of Iris Energy in a research note on Friday, May 16th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $20.30.

Iris Energy Trading Up 3.3%

Shares of NASDAQ:IREN traded up $0.28 during trading on Wednesday, reaching $8.89. The stock had a trading volume of 20,497,435 shares, compared to its average volume of 16,175,876. The firm's fifty day moving average is $6.56 and its 200 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 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). 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 net margin of 17.94% and a negative return on equity of 3.98%. Equities analysts expect that Iris Energy Limited will post 0.43 earnings per share for the current year.

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.