193,349 Shares in Iris Energy Limited (NASDAQ:IREN) Acquired by Calamos Advisors LLC

Calamos Advisors LLC purchased a new stake in shares of Iris Energy Limited (NASDAQ:IREN) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 193,349 shares of the company’s stock, valued at approximately $1,899,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. R Squared Ltd acquired a new position in shares of Iris Energy during the 4th quarter valued at $37,000. AFG Fiduciary Services Limited Partnership purchased a new stake in shares of Iris Energy in the third quarter worth about $77,000. Covestor Ltd acquired a new stake in shares of Iris Energy in the third quarter valued at about $87,000. Sippican Capital Advisors purchased a new stake in shares of Iris Energy during the 3rd quarter valued at about $94,000. Finally, TRU Independence Asset Management 2 LLC acquired a new position in Iris Energy during the 4th quarter worth approximately $163,000. 41.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IREN. 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 objective on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Iris Energy in a report on Wednesday, November 27th. HC Wainwright raised their target price on Iris Energy from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $15.00 price target (up previously from $9.50) on shares of Iris Energy in a report on Tuesday, December 10th. Finally, Cantor Fitzgerald lifted their price objective on Iris Energy from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Iris Energy currently has an average rating of “Moderate Buy” and a consensus price target of $19.50.

Iris Energy Price Performance

IREN stock opened at $10.68 on Wednesday. Iris Energy Limited has a 12-month low of $3.56 and a 12-month high of $15.92. The stock’s 50 day simple moving average is $11.81 and its 200 day simple moving average is $9.86.

Iris Energy (NASDAQ:IREN) last released its quarterly earnings data on Tuesday, November 26th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.11). Iris Energy had a negative return on equity of 8.01% and a negative net margin of 36.10%. On average, sell-side analysts forecast that Iris Energy Limited will post 0.11 earnings per share for the current year.

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.