Iris Energy Limited (NASDAQ:IREN) Stock Position Increased by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC grew its stake in shares of Iris Energy Limited (NASDAQ:IREN) by 13.2% during the third quarter, Holdings Channel reports. The institutional investor owned 54,515 shares of the company’s stock after acquiring an additional 6,347 shares during the period. Chicago Partners Investment Group LLC’s holdings in Iris Energy were worth $473,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bluefin Capital Management LLC bought a new stake in shares of Iris Energy during the 2nd quarter worth about $113,000. AFG Fiduciary Services Limited Partnership acquired a new position in shares of Iris Energy in the 3rd quarter worth approximately $77,000. Sippican Capital Advisors acquired a new position in shares of Iris Energy in the 3rd quarter worth approximately $94,000. Seven Eight Capital LP purchased a new position in shares of Iris Energy in the second quarter worth approximately $146,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in shares of Iris Energy in the second quarter worth approximately $149,000. 41.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IREN has been the topic of several analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 target price on shares of Iris Energy in a research report on Wednesday, October 30th. Sanford C. Bernstein initiated coverage on shares of Iris Energy in a research report on Wednesday, July 10th. They set an “outperform” rating and a $26.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Iris Energy from $11.00 to $9.50 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Roth Mkm assumed coverage on shares of Iris Energy in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $14.00 target price for the company. Finally, B. Riley reduced their target price on shares of Iris Energy from $17.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, September 13th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $15.44.

Iris Energy Stock Down 6.0 %

Shares of IREN stock opened at $8.51 on Tuesday. Iris Energy Limited has a 1 year low of $2.79 and a 1 year high of $15.75. The firm’s fifty day simple moving average is $8.29 and its 200 day simple moving average is $8.80.

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.