Pennant Investors LP trimmed its stake in Iris Energy Limited (NASDAQ:IREN - Free Report) by 15.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 792,000 shares of the company's stock after selling 148,000 shares during the period. Iris Energy accounts for about 2.2% of Pennant Investors LP's investment portfolio, making the stock its 13th biggest holding. Pennant Investors LP owned about 0.42% of Iris Energy worth $7,777,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its holdings in shares of Iris Energy by 1,059.0% during the 4th 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. First Trust Advisors LP boosted its stake in Iris Energy by 9.6% during the fourth quarter. First Trust Advisors LP now owns 343,833 shares of the company's stock worth $3,376,000 after acquiring an additional 30,160 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Iris Energy by 90.8% in the fourth quarter. NewEdge Advisors LLC now owns 105,272 shares of the company's stock worth $1,034,000 after purchasing an additional 50,090 shares during the period. Chiron Investment Management LLC bought a new position in shares of Iris Energy during the fourth quarter valued at approximately $955,000. Finally, Phoenix Financial Ltd. lifted its holdings in shares of Iris Energy by 40.6% during the fourth quarter. Phoenix Financial Ltd. now owns 48,559 shares of the company's stock valued at $477,000 after purchasing an additional 14,021 shares during the last quarter. Institutional investors own 41.08% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have issued reports on the company. Cantor Fitzgerald reiterated an "overweight" rating and set a $23.00 price objective on shares of Iris Energy in a research note on Thursday, February 13th. Needham & Company LLC reaffirmed a "hold" rating on shares of Iris Energy in a report on Thursday, February 13th. Canaccord Genuity Group upped their target price on shares of Iris Energy from $17.00 to $23.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. raised Iris Energy from a "neutral" rating to an "overweight" rating and reduced their target price for the stock from $15.00 to $12.00 in a report on Thursday, March 13th. Finally, HC Wainwright raised their price target on shares of Iris Energy from $16.00 to $22.00 and gave the company a "buy" rating in a report on Thursday, February 13th. One 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 data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $20.40.
Read Our Latest Stock Analysis on Iris Energy
Iris Energy Stock Performance
NASDAQ:IREN traded up $0.24 during mid-day trading on Friday, hitting $6.54. 14,542,870 shares of the company traded hands, compared to its average volume of 15,685,340. The stock's fifty day moving average price is $7.04 and its 200-day moving average price is $9.74. Iris Energy Limited has a one year low of $4.15 and a one year high of $15.92.
Iris Energy (NASDAQ:IREN - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.13. Iris Energy had a negative net margin of 17.94% and a negative return on equity of 3.98%. Analysts forecast that Iris Energy Limited will post 0.43 EPS for the current year.
About Iris Energy
(
Free Report)
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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