NewEdge Advisors LLC Increases Stock Position in Iris Energy Limited (NASDAQ:IREN)

NewEdge Advisors LLC increased its position in shares of Iris Energy Limited (NASDAQ:IREN - Free Report) by 90.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 105,272 shares of the company's stock after acquiring an additional 50,090 shares during the quarter. NewEdge Advisors LLC owned approximately 0.06% of Iris Energy worth $1,034,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Baader Bank Aktiengesellschaft lifted its position 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 buying an additional 50,000 shares during the last quarter. Vontobel Holding Ltd. lifted its position in Iris Energy by 13.4% in the fourth quarter. Vontobel Holding Ltd. now owns 55,923 shares of the company's stock valued at $549,000 after buying an additional 6,601 shares during the last quarter. Private Advisor Group LLC acquired a new position in Iris Energy in the fourth quarter valued at about $120,000. Geode Capital Management LLC increased its stake in Iris Energy by 56.3% during the third quarter. Geode Capital Management LLC now owns 735,071 shares of the company's stock worth $6,204,000 after purchasing an additional 264,883 shares during the period. Finally, State Street Corp increased its stake in Iris Energy by 62.2% during the third quarter. State Street Corp now owns 79,759 shares of the company's stock worth $673,000 after purchasing an additional 30,576 shares during the period. Institutional investors and hedge funds own 41.08% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Canaccord Genuity Group boosted their price target 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. Cantor Fitzgerald reiterated an "overweight" rating and set a $23.00 price target on shares of Iris Energy in a research note on Thursday, February 13th. Needham & Company LLC reiterated a "hold" rating on shares of Iris Energy in a research note on Thursday, February 13th. JPMorgan Chase & Co. upgraded shares of Iris Energy from a "neutral" rating to an "overweight" rating and cut their price target for the stock from $15.00 to $12.00 in a research note on Thursday, March 13th. Finally, HC Wainwright boosted their price target on shares of Iris Energy from $16.00 to $22.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $20.40.

Iris Energy Price Performance

Shares of Iris Energy stock traded down $0.16 during trading on Wednesday, hitting $6.11. 12,720,087 shares of the stock were exchanged, compared to its average volume of 15,674,856. The firm's 50-day moving average price is $6.69 and its 200 day moving average price is $9.70. Iris Energy Limited has a 12-month low of $4.15 and a 12-month high of $15.92.

Iris Energy (NASDAQ:IREN - Get Free Report) last released its quarterly earnings data 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%. Equities analysts expect 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.