XML Financial LLC Purchases New Position in Iris Energy Limited (NASDAQ:IREN)

XML Financial LLC acquired a new stake in Iris Energy Limited (NASDAQ:IREN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,000 shares of the company’s stock, valued at approximately $196,000.

Several other hedge funds also recently made changes to their positions in the company. Marshall Wace LLP boosted its position in shares of Iris Energy by 33.6% in the 2nd quarter. Marshall Wace LLP now owns 3,811,780 shares of the company’s stock valued at $43,035,000 after purchasing an additional 958,494 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Iris Energy by 56.1% in the third quarter. Van ECK Associates Corp now owns 1,605,671 shares of the company’s stock valued at $13,938,000 after acquiring an additional 576,726 shares during the period. Bank of Montreal Can purchased a new position in shares of Iris Energy during the second quarter worth approximately $9,969,000. Regal Partners Ltd increased its holdings in shares of Iris Energy by 2.7% in the 3rd quarter. Regal Partners Ltd now owns 875,303 shares of the company’s stock valued at $7,388,000 after acquiring an additional 23,132 shares during the period. Finally, Geode Capital Management LLC raised its position in Iris Energy by 56.3% in the 3rd quarter. Geode Capital Management LLC now owns 735,071 shares of the company’s stock valued at $6,204,000 after purchasing an additional 264,883 shares during the last quarter. Hedge funds and other institutional investors own 41.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on IREN shares. B. Riley lifted their price objective on shares of Iris Energy from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Macquarie upped their price objective on Iris Energy from $13.50 to $19.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Roth Mkm initiated coverage on Iris Energy in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $14.00 target price on the stock. JPMorgan Chase & Co. restated a “neutral” rating and set a $15.00 price target (up previously from $9.50) on shares of Iris Energy in a research note on Tuesday, December 10th. Finally, BTIG Research assumed coverage on shares of Iris Energy in a research report on Friday, December 20th. They issued a “buy” rating and a $33.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Iris Energy currently has an average rating of “Moderate Buy” and an average target price of $19.50.

Iris Energy Stock Performance

Shares of NASDAQ IREN opened at $12.28 on Friday. Iris Energy Limited has a one year low of $3.56 and a one year high of $15.92. The company’s fifty day moving average is $11.74 and its two-hundred day moving average is $9.97.

Iris Energy (NASDAQ:IREN) last released its quarterly earnings data on Tuesday, November 26th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.11). Iris Energy had a negative return on equity of 8.01% and a negative net margin of 36.10%. On average, equities analysts predict that Iris Energy Limited will post 0.12 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.