Regal Partners Ltd boosted its stake in shares of Iris Energy Limited (NASDAQ:IREN - Free Report) by 93.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,697,554 shares of the company's stock after acquiring an additional 822,251 shares during the quarter. Iris Energy makes up approximately 1.7% of Regal Partners Ltd's holdings, making the stock its 19th biggest holding. Regal Partners Ltd owned about 0.90% of Iris Energy worth $16,670,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership lifted its stake in Iris Energy by 1,307.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,684,836 shares of the company's stock valued at $55,825,000 after buying an additional 5,280,999 shares during the period. Discovery Capital Management LLC CT acquired a new stake in shares of Iris Energy in the 4th quarter valued at approximately $11,544,000. Two Seas Capital LP boosted its stake in Iris Energy by 212.7% during the 4th quarter. Two Seas Capital LP now owns 860,000 shares of the company's stock worth $8,445,000 after acquiring an additional 585,000 shares during the last quarter. Invesco Ltd. grew its holdings in Iris Energy by 22.5% during the fourth quarter. Invesco Ltd. now owns 2,311,583 shares of the company's stock valued at $22,700,000 after purchasing an additional 424,403 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Iris Energy by 96.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 710,890 shares of the company's stock valued at $6,981,000 after purchasing an additional 348,864 shares in the last quarter. Institutional investors and hedge funds own 41.08% of the company's stock.
Analyst Upgrades and Downgrades
IREN has been the topic of several recent analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $23.00 price objective on shares of Iris Energy in a report on Thursday, February 13th. JPMorgan Chase & Co. raised shares of Iris Energy from a "neutral" rating to an "overweight" rating and cut their price target for the company from $15.00 to $12.00 in a research note on Thursday, March 13th. HC Wainwright increased their price objective on shares of Iris Energy from $16.00 to $22.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Canaccord Genuity Group raised their price objective on shares of Iris Energy from $17.00 to $23.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Iris Energy in a report on Thursday, February 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, Iris Energy has a consensus rating of "Buy" and an average target price of $20.40.
Get Our Latest Stock Analysis on IREN
Iris Energy Stock Up 2.5 %
Shares of IREN traded up $0.16 during mid-day trading on Friday, hitting $6.53. 18,453,247 shares of the company's stock were exchanged, compared to its average volume of 15,828,418. The stock's 50-day simple moving average is $6.57 and its 200-day simple moving average is $9.68. Iris Energy Limited has a 52 week low of $4.65 and a 52 week high of $15.92.
Iris Energy (NASDAQ:IREN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.13. Iris Energy had a negative return on equity of 3.98% and a negative net margin of 17.94%. Equities research 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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