Hel Ved Capital Management Ltd Has $3.89 Million Stock Position in Iris Energy Limited (NASDAQ:IREN)

Hel Ved Capital Management Ltd grew its position in Iris Energy Limited (NASDAQ:IREN) by 196.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 395,800 shares of the company’s stock after acquiring an additional 262,150 shares during the quarter. Iris Energy makes up about 1.1% of Hel Ved Capital Management Ltd’s investment portfolio, making the stock its 27th largest holding. Hel Ved Capital Management Ltd’s holdings in Iris Energy were worth $3,887,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IREN. Stonebridge Financial Group LLC bought a new position in Iris Energy during the fourth quarter valued at approximately $29,000. HM Payson & Co. acquired a new stake in shares of Iris Energy in the 4th quarter valued at $30,000. R Squared Ltd bought a new stake in Iris Energy in the fourth quarter worth $37,000. World Equity Group Inc. acquired a new position in Iris Energy during the fourth quarter worth $98,000. Finally, Farther Finance Advisors LLC acquired a new position in Iris Energy during the fourth quarter worth $98,000. 41.08% of the stock is owned by hedge funds and other institutional investors.

Iris Energy Stock Down 1.7 %

Shares of IREN opened at $5.94 on Friday. Iris Energy Limited has a 52 week low of $4.15 and a 52 week high of $15.92. The company has a 50-day simple moving average of $9.04 and a 200-day simple moving average of $10.03.

Iris Energy (NASDAQ:IREN) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates 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%. On average, research analysts anticipate that Iris Energy Limited will post 0.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IREN. Needham & Company LLC reissued a “hold” rating on shares of Iris Energy in a report on Thursday, February 13th. Canaccord Genuity Group increased their price target on Iris Energy from $17.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. upgraded shares of Iris Energy from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $15.00 to $12.00 in a research note on Thursday, March 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $23.00 target price on shares of Iris Energy in a research note on Thursday, February 13th. Finally, HC Wainwright boosted their target price 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. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Iris Energy currently has an average rating of “Buy” and an average target price of $20.40.

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.