Lighthouse Investment Partners LLC Acquires Shares of 94,000 Iris Energy Limited (NASDAQ:IREN)

Lighthouse Investment Partners LLC bought a new position in shares of Iris Energy Limited (NASDAQ:IREN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 94,000 shares of the company's stock, valued at approximately $923,000. Lighthouse Investment Partners LLC owned 0.05% of Iris Energy at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Sippican Capital Advisors boosted its stake in Iris Energy by 15.1% during the fourth quarter. Sippican Capital Advisors now owns 12,780 shares of the company's stock worth $126,000 after buying an additional 1,680 shares during the period. Drive Wealth Management LLC boosted its stake in Iris Energy by 5.8% during the fourth quarter. Drive Wealth Management LLC now owns 39,690 shares of the company's stock worth $390,000 after buying an additional 2,193 shares during the period. Stonebridge Financial Group LLC purchased a new position in shares of Iris Energy in the fourth quarter valued at approximately $29,000. HM Payson & Co. purchased a new position in shares of Iris Energy in the fourth quarter valued at approximately $30,000. Finally, R Squared Ltd purchased a new position in shares of Iris Energy in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 41.08% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on IREN shares. Needham & Company LLC reissued a "hold" rating on shares of Iris Energy in a research note on Thursday, February 13th. Cantor Fitzgerald reissued an "overweight" rating and set a $23.00 price objective on shares of Iris Energy in a report on Thursday, February 13th. Canaccord Genuity Group restated a "buy" rating and set a $23.00 target price on shares of Iris Energy in a research report on Friday. HC Wainwright lowered their target price on shares of Iris Energy from $22.00 to $21.00 and set a "buy" rating on the stock in a research report on Thursday, May 15th. Finally, JPMorgan Chase & Co. upgraded shares of Iris Energy from a "neutral" rating to an "overweight" rating and lowered their price objective for the company from $15.00 to $12.00 in a research report on Thursday, March 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $20.30.

Iris Energy Trading Down 1.3%

IREN stock traded down $0.12 during trading on Tuesday, hitting $8.43. The stock had a trading volume of 3,423,152 shares, compared to its average volume of 16,137,282. The company's 50 day moving average price is $6.52 and its two-hundred day moving average price is $9.51. Iris Energy Limited has a 1-year low of $5.13 and a 1-year high of $15.92.

Iris Energy (NASDAQ:IREN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.06). The company had revenue of $148.10 million for the quarter, compared to analyst estimates of $153.38 million. Iris Energy had a negative net margin of 17.94% and a negative return on equity of 3.98%. Research analysts forecast that Iris Energy Limited will post 0.43 earnings per share for the current fiscal 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.