SRN Advisors LLC Acquires New Shares in Iris Energy Limited (NASDAQ:IREN)

SRN Advisors LLC acquired a new position in Iris Energy Limited (NASDAQ:IREN) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $982,000.

Several other institutional investors also recently bought and sold shares of the stock. Van ECK Associates Corp lifted its holdings in Iris Energy by 56.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,671 shares of the company’s stock worth $13,938,000 after purchasing an additional 576,726 shares during the last quarter. Rush Island Management LP bought a new stake in shares of Iris Energy during the 3rd quarter worth $4,783,000. Paloma Partners Management Co acquired a new position in Iris Energy in the 3rd quarter valued at $2,739,000. Geode Capital Management LLC raised its holdings in Iris Energy by 56.3% in the 3rd quarter. Geode Capital Management LLC now owns 735,071 shares of the company’s stock worth $6,204,000 after acquiring an additional 264,883 shares during the period. Finally, Calamos Advisors LLC acquired a new position in Iris Energy during the 4th quarter worth $1,899,000. 41.08% of the stock is currently owned by institutional investors.

Iris Energy Stock Performance

IREN opened at $8.49 on Thursday. The stock’s 50 day simple moving average is $11.29 and its 200-day simple moving average is $10.16. Iris Energy Limited has a 1 year low of $4.15 and a 1 year high of $15.92.

Iris Energy (NASDAQ:IREN) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.13. Iris Energy had a negative net margin of 17.94% and a negative return on equity of 3.98%. As a group, equities analysts expect that Iris Energy Limited will post 0.43 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on IREN shares. HC Wainwright raised their price target on Iris Energy from $16.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $15.00 target price (up previously from $9.50) on shares of Iris Energy in a report on Tuesday, December 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Iris Energy in a research report on Thursday, February 13th. Macquarie increased their price objective on Iris Energy from $13.50 to $19.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Canaccord Genuity Group boosted their target price on shares of Iris Energy from $17.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $20.70.

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.