Wells Fargo & Company MN Purchases 96,358 Shares of Iris Energy Limited (NASDAQ:IREN)

Wells Fargo & Company MN lifted its position in shares of Iris Energy Limited (NASDAQ:IREN - Free Report) by 54.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 272,398 shares of the company's stock after buying an additional 96,358 shares during the quarter. Wells Fargo & Company MN owned about 0.15% of Iris Energy worth $2,675,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of IREN. Arrowstreet Capital Limited Partnership lifted its position in shares of Iris Energy by 1,307.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,684,836 shares of the company's stock valued at $55,825,000 after acquiring an additional 5,280,999 shares during the period. Discovery Capital Management LLC CT acquired a new position in shares of Iris Energy during the fourth quarter valued at about $11,544,000. Charles Schwab Investment Management Inc. increased its position in Iris Energy by 96.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 710,890 shares of the company's stock valued at $6,981,000 after buying an additional 348,864 shares in the last quarter. Geode Capital Management LLC raised its stake in Iris Energy by 56.3% during the 3rd quarter. Geode Capital Management LLC now owns 735,071 shares of the company's stock worth $6,204,000 after buying an additional 264,883 shares during the period. Finally, Calamos Advisors LLC acquired a new stake in Iris Energy in the fourth quarter valued at approximately $1,899,000. Institutional investors own 41.08% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on IREN shares. Canaccord Genuity Group lifted their price target on shares of Iris Energy from $17.00 to $23.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. upgraded 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. Needham & Company LLC restated a "hold" rating on shares of Iris Energy in a report on Thursday, February 13th. Cantor Fitzgerald reissued an "overweight" rating and issued a $23.00 price target on shares of Iris Energy in a research report on Thursday, February 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 report on Thursday, February 13th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $20.40.

Iris Energy Trading Down 2.6 %

IREN traded down $0.16 during trading hours on Wednesday, hitting $6.11. The stock had a trading volume of 12,720,087 shares, compared to its average volume of 15,674,856. Iris Energy Limited has a 1 year low of $4.15 and a 1 year high of $15.92. The company's fifty day simple moving average is $6.69 and its 200 day simple moving average is $9.70.

Iris Energy (NASDAQ:IREN - Get Free Report) last posted 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 return on equity of 3.98% and a negative net margin of 17.94%. As a group, research analysts forecast that Iris Energy Limited will post 0.43 EPS for the current 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.