VitalStone Financial LLC Acquires 75,396 Shares of Iris Energy Limited (NASDAQ:IREN)

VitalStone Financial LLC lifted its holdings in Iris Energy Limited (NASDAQ:IREN) by 95.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 154,681 shares of the company’s stock after acquiring an additional 75,396 shares during the quarter. Iris Energy accounts for about 0.9% of VitalStone Financial LLC’s holdings, making the stock its 25th biggest holding. VitalStone Financial LLC owned approximately 0.11% of Iris Energy worth $1,306,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in IREN. Marshall Wace LLP grew its holdings in Iris Energy by 33.6% in the 2nd quarter. Marshall Wace LLP now owns 3,811,780 shares of the company’s stock worth $43,035,000 after acquiring an additional 958,494 shares during the last quarter. Vident Advisory LLC increased its holdings in Iris Energy by 58.0% during the 1st quarter. Vident Advisory LLC now owns 1,954,998 shares of the company’s stock valued at $10,557,000 after purchasing an additional 717,843 shares during the period. Van ECK Associates Corp increased its holdings in Iris Energy by 23.7% during the 1st quarter. Van ECK Associates Corp now owns 1,837,683 shares of the company’s stock valued at $9,924,000 after purchasing an additional 351,774 shares during the period. D1 Capital Partners L.P. bought a new position in Iris Energy during the 2nd quarter valued at approximately $17,319,000. Finally, Hood River Capital Management LLC purchased a new stake in Iris Energy in the 2nd quarter worth approximately $13,618,000. Hedge funds and other institutional investors own 41.08% of the company’s stock.

Iris Energy Stock Performance

Iris Energy stock opened at $7.74 on Monday. The stock’s 50 day moving average is $7.82 and its 200 day moving average is $8.35. Iris Energy Limited has a twelve month low of $2.79 and a twelve month high of $15.75.

Wall Street Analyst Weigh In

IREN has been the subject of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $20.00 target price on shares of Iris Energy in a report on Thursday, October 3rd. JPMorgan Chase & Co. decreased their price objective on shares of Iris Energy from $11.00 to $9.50 and set an “overweight” rating for the company in a report on Friday, August 23rd. Roth Mkm began coverage on shares of Iris Energy in a research note on Wednesday, October 2nd. They set a “buy” rating and a $14.00 target price on the stock. B. Riley reduced their price target on shares of Iris Energy from $17.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Finally, Needham & Company LLC began coverage on shares of Iris Energy in a report on Wednesday, September 4th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Iris Energy currently has a consensus rating of “Buy” and an average price target of $15.44.

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.