3,000 Shares in Iris Energy Limited (NASDAQ:IREN) Bought by Stonebridge Financial Group LLC

Stonebridge Financial Group LLC bought a new position in shares of Iris Energy Limited (NASDAQ:IREN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,000 shares of the company’s stock, valued at approximately $29,000.

A number of other institutional investors have also added to or reduced their stakes in IREN. Van ECK Associates Corp increased its position in shares of Iris Energy by 56.1% in the third 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 position in shares of Iris Energy in the 3rd quarter worth $4,783,000. Paloma Partners Management Co bought a new position in shares of Iris Energy in the 3rd quarter worth $2,739,000. Geode Capital Management LLC raised its position in shares of Iris Energy by 56.3% during the 3rd quarter. Geode Capital Management LLC now owns 735,071 shares of the company’s stock valued at $6,204,000 after buying an additional 264,883 shares in the last quarter. Finally, Calamos Advisors LLC bought a new stake in shares of Iris Energy during the 4th quarter worth $1,899,000. 41.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IREN. 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. JPMorgan Chase & Co. restated a “neutral” rating and issued a $15.00 target price (up previously from $9.50) on shares of Iris Energy in a research report on Tuesday, December 10th. BTIG Research started coverage on shares of Iris Energy in a research note on Friday, December 20th. They set a “buy” rating and a $33.00 price target on the stock. Canaccord Genuity Group upped their price objective on shares of Iris Energy from $17.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday. Finally, B. Riley lifted their target price on shares of Iris Energy from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.70.

Iris Energy Stock Performance

Shares of NASDAQ:IREN opened at $13.01 on Friday. Iris Energy Limited has a 1 year low of $4.15 and a 1 year high of $15.92. The stock’s 50-day moving average is $11.65 and its 200 day moving average is $9.99.

Iris Energy (NASDAQ:IREN) last announced its earnings results on Wednesday, February 12th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.13. Iris Energy had a negative return on equity of 8.01% and a negative net margin of 36.10%. As a group, analysts forecast that Iris Energy Limited will post 0.11 EPS for the current fiscal year.

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.