Stratos Wealth Advisors LLC Makes New Investment in Iris Energy Limited (NASDAQ:IREN)

Stratos Wealth Advisors LLC bought a new stake in Iris Energy Limited (NASDAQ:IREN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 80,383 shares of the company’s stock, valued at approximately $789,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Calamos Advisors LLC purchased a new position in Iris Energy in the fourth quarter worth $1,899,000. Sippican Capital Advisors grew its position in Iris Energy by 15.1% during the fourth quarter. Sippican Capital Advisors now owns 12,780 shares of the company’s stock valued at $126,000 after buying an additional 1,680 shares during the period. Baader Bank Aktiengesellschaft increased its holdings in Iris Energy by 66.7% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 125,000 shares of the company’s stock worth $1,228,000 after buying an additional 50,000 shares during the last quarter. R Squared Ltd purchased a new position in Iris Energy in the fourth quarter valued at about $37,000. Finally, TRU Independence Asset Management 2 LLC bought a new position in shares of Iris Energy during the 4th quarter valued at approximately $163,000. 41.08% of the stock is owned by hedge funds and other institutional investors.

Iris Energy Trading Up 4.7 %

NASDAQ IREN opened at $11.59 on Friday. The company’s 50 day simple moving average is $11.77 and its two-hundred day simple moving average is $9.88. Iris Energy Limited has a 1 year low of $3.76 and a 1 year high of $15.92.

Iris Energy (NASDAQ:IREN) last posted its quarterly earnings data on Tuesday, November 26th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.11). Iris Energy had a negative net margin of 36.10% and a negative return on equity of 8.01%. As a group, research analysts predict that Iris Energy Limited will post 0.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Cantor Fitzgerald lifted their price target on shares of Iris Energy from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $15.00 price target (up previously from $9.50) on shares of Iris Energy in a research report on Tuesday, December 10th. HC Wainwright lifted their price objective on Iris Energy from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. B. Riley upped their price objective on shares of Iris Energy from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Canaccord Genuity Group lifted their target price on shares of Iris Energy from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.50.

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.