Two Sigma Investments LP Acquires 1,056,005 Shares of Iris Energy Limited (NASDAQ:IREN)

Two Sigma Investments LP boosted its holdings in shares of Iris Energy Limited (NASDAQ:IREN - Free Report) by 193.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,602,642 shares of the company's stock after buying an additional 1,056,005 shares during the quarter. Two Sigma Investments LP owned approximately 0.85% of Iris Energy worth $15,738,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new position in shares of Iris Energy in the fourth quarter valued at approximately $1,519,000. Thomist Capital Management LP acquired a new position in shares of Iris Energy in the fourth quarter valued at approximately $1,382,000. Sculptor Capital LP acquired a new position in shares of Iris Energy in the fourth quarter valued at approximately $1,034,000. Main Management LLC acquired a new position in shares of Iris Energy in the fourth quarter valued at approximately $49,000. Finally, Lazard Asset Management LLC grew its position in shares of Iris Energy by 77,314.0% in the fourth 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 last quarter. Institutional investors and hedge funds own 41.08% of the company's stock.

Iris Energy Stock Performance

Iris Energy stock traded down $0.44 during midday trading on Wednesday, reaching $8.80. The company's stock had a trading volume of 4,453,645 shares, compared to its average volume of 16,180,006. Iris Energy Limited has a 52 week low of $5.13 and a 52 week high of $15.92. The business has a 50-day moving average price of $6.76 and a 200-day moving average price of $9.47.

Iris Energy (NASDAQ:IREN - Get Free Report) last issued its earnings results 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). 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, analysts expect that Iris Energy Limited will post 0.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $23.00 target price on shares of Iris Energy in a research report on Thursday, February 13th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $23.00 target price on shares of Iris Energy in a research report on Friday, May 16th. Wall Street Zen downgraded Iris Energy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Macquarie upped their target price on Iris Energy from $15.50 to $20.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Finally, JPMorgan Chase & Co. raised Iris Energy from a "neutral" rating to an "overweight" rating and reduced their price target for the stock from $15.00 to $12.00 in a research report on Thursday, March 13th. One 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 company's stock. According to MarketBeat, Iris Energy presently has a consensus rating of "Moderate 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.