Iris Energy Limited (NASDAQ:IREN) Stake Increased by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft grew its holdings in Iris Energy Limited (NASDAQ:IREN) by 66.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 125,000 shares of the company’s stock after purchasing an additional 50,000 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Iris Energy were worth $1,228,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Main Management ETF Advisors LLC acquired a new position in shares of Iris Energy in the third quarter worth $760,000. Van ECK Associates Corp increased its position in Iris Energy by 56.1% during the third quarter. Van ECK Associates Corp now owns 1,605,671 shares of the company’s stock worth $13,938,000 after buying an additional 576,726 shares during the last quarter. Vontobel Holding Ltd. increased its position in Iris Energy by 123.1% during the third quarter. Vontobel Holding Ltd. now owns 49,322 shares of the company’s stock worth $416,000 after buying an additional 27,212 shares during the last quarter. Creative Planning increased its position in Iris Energy by 71.2% during the third quarter. Creative Planning now owns 457,625 shares of the company’s stock worth $3,862,000 after buying an additional 190,300 shares during the last quarter. Finally, Campbell Capital Management Inc. acquired a new position in Iris Energy during the third quarter worth $608,000. Hedge funds and other institutional investors own 41.08% of the company’s stock.

Iris Energy Price Performance

Shares of Iris Energy stock opened at $9.98 on Thursday. The firm has a 50 day simple moving average of $11.79 and a 200 day simple moving average of $9.90. Iris Energy Limited has a fifty-two week low of $3.56 and a fifty-two week high of $15.92.

Iris Energy (NASDAQ:IREN) last released its earnings results 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, analysts expect that Iris Energy Limited will post 0.12 EPS for the current year.

Analysts Set New Price Targets

IREN has been the topic of several research analyst reports. HC Wainwright raised their price target on Iris Energy from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Canaccord Genuity Group increased their target price on shares of Iris Energy from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Cantor Fitzgerald raised their price target on shares of Iris Energy from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Macquarie raised their price objective on shares of Iris Energy from $13.50 to $19.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Roth Mkm began coverage on shares of Iris Energy in a report on Wednesday, October 2nd. They set a “buy” rating and a $14.00 price objective for the company. Two 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $19.50.

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.