Iris Energy Limited (NASDAQ:IREN) Shares Purchased by Sippican Capital Advisors

Sippican Capital Advisors increased its position in shares of Iris Energy Limited (NASDAQ:IREN) by 15.1% in the 4th quarter, Holdings Channel reports. The firm owned 12,780 shares of the company’s stock after purchasing an additional 1,680 shares during the period. Sippican Capital Advisors’ holdings in Iris Energy were worth $126,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Iris Energy during the second quarter worth $1,401,000. Point72 Asset Management L.P. boosted its position in Iris Energy by 478.2% during the second quarter. Point72 Asset Management L.P. now owns 164,800 shares of the company’s stock worth $1,861,000 after acquiring an additional 136,300 shares during the last quarter. Truist Financial Corp grew its stake in Iris Energy by 3.2% during the 2nd quarter. Truist Financial Corp now owns 51,575 shares of the company’s stock valued at $582,000 after acquiring an additional 1,575 shares in the last quarter. Dana Investment Advisors Inc. acquired a new stake in Iris Energy in the 2nd quarter valued at about $161,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in Iris Energy in the 2nd quarter worth approximately $149,000. 41.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Roth Mkm assumed coverage on Iris Energy in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $14.00 price target for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Iris Energy in a research note on Wednesday, November 27th. BTIG Research initiated coverage on shares of Iris Energy in a research report on Friday, December 20th. They set a “buy” rating and a $33.00 price target on the stock. Cantor Fitzgerald increased their price target on shares of Iris Energy from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Finally, B. Riley increased their price target on Iris Energy from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Two 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.50.

Iris Energy Stock Down 1.0 %

Iris Energy stock opened at $9.98 on Thursday. The stock’s fifty day simple moving average is $11.79 and its 200-day simple moving average is $9.90. Iris Energy Limited has a twelve month low of $3.56 and a twelve month high of $15.92.

Iris Energy (NASDAQ:IREN) last released its earnings results on Tuesday, November 26th. The company reported ($0.22) earnings per share 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, analysts predict that Iris Energy Limited will post 0.12 earnings per share for the current fiscal year.

Iris Energy Company Profile

Iris Energy Limited owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.