Two Seas Capital LP Has $8.45 Million Stock Position in Iris Energy Limited (NASDAQ:IREN)

Two Seas Capital LP lifted its holdings in Iris Energy Limited (NASDAQ:IREN - Free Report) by 212.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 860,000 shares of the company's stock after purchasing an additional 585,000 shares during the period. Iris Energy accounts for about 0.7% of Two Seas Capital LP's investment portfolio, making the stock its 18th biggest holding. Two Seas Capital LP owned approximately 0.46% of Iris Energy worth $8,445,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Continuum Advisory LLC raised its position in shares of Iris Energy by 11.3% in the fourth quarter. Continuum Advisory LLC now owns 56,678 shares of the company's stock valued at $557,000 after purchasing an additional 5,772 shares during the period. Vident Advisory LLC raised its holdings in Iris Energy by 26.1% in the 4th quarter. Vident Advisory LLC now owns 2,937,918 shares of the company's stock worth $28,850,000 after acquiring an additional 608,736 shares during the period. Twinbeech Capital LP acquired a new position in Iris Energy during the 4th quarter worth $4,324,000. Two Sigma Investments LP boosted its holdings in Iris Energy by 193.2% during the fourth quarter. Two Sigma Investments LP now owns 1,602,642 shares of the company's stock valued at $15,738,000 after acquiring an additional 1,056,005 shares during the period. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new stake in shares of Iris Energy in the fourth quarter valued at about $1,519,000. 41.08% of the stock is currently owned by institutional investors.

Iris Energy Price Performance

NASDAQ:IREN opened at $8.61 on Wednesday. The firm has a 50-day moving average price of $6.56 and a 200 day moving average price of $9.51. Iris Energy Limited has a 12-month low of $5.13 and a 12-month high of $15.92.

Iris Energy (NASDAQ:IREN - Get Free Report) last announced its quarterly 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). Iris Energy had a negative net margin of 17.94% and a negative return on equity of 3.98%. The company had revenue of $148.10 million during the quarter, compared to analyst estimates of $153.38 million. As a group, equities analysts anticipate that Iris Energy Limited will post 0.43 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on IREN shares. HC Wainwright cut their price objective on Iris Energy from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Thursday, May 15th. Cantor Fitzgerald reiterated an "overweight" rating and set a $23.00 price target on shares of Iris Energy in a report on Thursday, February 13th. Macquarie raised their price objective on shares of Iris Energy from $15.50 to $20.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. B. Riley upped their target price on shares of Iris Energy from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, JPMorgan Chase & Co. upgraded shares of Iris Energy from a "neutral" rating to an "overweight" rating and dropped their price objective for the stock from $15.00 to $12.00 in a report on Thursday, March 13th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $20.30.

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.

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