Regal Partners Ltd Boosts Position in Iris Energy Limited (NASDAQ:IREN)

Regal Partners Ltd raised its holdings in shares of Iris Energy Limited (NASDAQ:IREN) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 875,303 shares of the company’s stock after acquiring an additional 23,132 shares during the quarter. Regal Partners Ltd’s holdings in Iris Energy were worth $7,388,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IREN. Marshall Wace LLP lifted its stake in shares of Iris Energy by 33.6% during the second quarter. Marshall Wace LLP now owns 3,811,780 shares of the company’s stock valued at $43,035,000 after buying an additional 958,494 shares during the period. Vident Advisory LLC boosted its stake in Iris Energy by 58.0% in the 1st quarter. Vident Advisory LLC now owns 1,954,998 shares of the company’s stock worth $10,557,000 after buying an additional 717,843 shares during the last quarter. Van ECK Associates Corp grew 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 valued at $13,938,000 after buying an additional 576,726 shares during the period. D1 Capital Partners L.P. acquired a new position in shares of Iris Energy during the 2nd quarter valued at about $17,319,000. Finally, Hood River Capital Management LLC acquired a new stake in shares of Iris Energy in the second quarter worth approximately $13,618,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on IREN. Canaccord Genuity Group reaffirmed a “buy” rating and set a $15.00 price target on shares of Iris Energy in a research note on Thursday, August 29th. Roth Capital raised Iris Energy to a “strong-buy” rating in a research report on Tuesday, October 1st. Macquarie upped their price target on Iris Energy from $12.00 to $13.50 and gave the stock an “outperform” rating in a research note on Friday, August 30th. HC Wainwright dropped their target price on shares of Iris Energy from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Finally, B. Riley cut their target price on shares of Iris Energy from $17.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. One research 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. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $15.44.

Iris Energy Price Performance

Shares of IREN stock opened at $10.88 on Thursday. The firm has a fifty day moving average of $8.80 and a two-hundred day moving average of $9.09. Iris Energy Limited has a 1-year low of $2.79 and a 1-year high of $15.75.

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.