Chiron Investment Management LLC Makes New Investment in Iris Energy Limited (NASDAQ:IREN)

Chiron Investment Management LLC bought a new position in Iris Energy Limited (NASDAQ:IREN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 97,301 shares of the company’s stock, valued at approximately $955,000. Chiron Investment Management LLC owned about 0.05% of Iris Energy at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. Stonebridge Financial Group LLC bought a new position in Iris Energy in the 4th quarter worth 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 shares of Iris Energy during the fourth quarter worth $37,000. Farther Finance Advisors LLC acquired a new position in shares of Iris Energy during the fourth quarter valued at $98,000. Finally, World Equity Group Inc. bought a new position in Iris Energy in the fourth quarter valued at about $98,000. 41.08% of the stock is currently owned by institutional investors and hedge funds.

Iris Energy Stock Up 2.6 %

NASDAQ IREN opened at $5.63 on Monday. Iris Energy Limited has a one year low of $4.15 and a one year high of $15.92. The stock’s 50-day moving average is $8.38 and its 200-day moving average is $9.92.

Iris Energy (NASDAQ:IREN) last posted its earnings results on Wednesday, February 12th. The company reported $0.09 earnings per share (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, equities research analysts forecast that Iris Energy Limited will post 0.43 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on IREN shares. Needham & Company LLC restated a “hold” rating on shares of Iris Energy in a research report on Thursday, February 13th. HC Wainwright lifted their target price on shares of Iris Energy from $16.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Canaccord Genuity Group upped their target price on shares of Iris Energy from $17.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. B. Riley lifted their price objective on Iris Energy from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $23.00 price objective on shares of Iris Energy in a report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $20.40.

Iris Energy Company Profile

Iris Energy Limited owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.