X Square Capital LLC Purchases 78,990 Shares of Iris Energy Limited (NASDAQ:IREN)

X Square Capital LLC raised its position in shares of Iris Energy Limited (NASDAQ:IREN) by 87.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 168,990 shares of the company’s stock after purchasing an additional 78,990 shares during the quarter. X Square Capital LLC’s holdings in Iris Energy were worth $1,659,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Stonebridge Financial Group LLC bought a new stake in Iris Energy during the fourth quarter valued at approximately $29,000. HM Payson & Co. bought a new stake in shares of Iris Energy during the 4th quarter valued at $30,000. R Squared Ltd bought a new stake in shares of Iris Energy during the 4th quarter valued at $37,000. World Equity Group Inc. purchased a new stake in shares of Iris Energy in the 4th quarter worth $98,000. Finally, Farther Finance Advisors LLC bought a new position in Iris Energy in the 4th quarter worth $98,000. Institutional investors own 41.08% of the company’s stock.

Iris Energy Trading Down 3.7 %

Shares of IREN stock opened at $6.46 on Friday. Iris Energy Limited has a twelve month low of $4.15 and a twelve month high of $15.92. The stock has a 50 day moving average of $9.73 and a 200 day moving average of $10.08.

Iris Energy (NASDAQ:IREN) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.13. Iris Energy had a negative net margin of 17.94% and a negative return on equity of 3.98%. On average, equities research analysts forecast that Iris Energy Limited will post 0.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on IREN. Canaccord Genuity Group raised their target price on shares of Iris Energy from $17.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. B. Riley raised their price objective on shares of Iris Energy from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. BTIG Research started coverage on shares of Iris Energy in a report on Friday, December 20th. They issued a “buy” rating and a $33.00 target price for the company. JPMorgan Chase & Co. raised Iris Energy from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $15.00 to $12.00 in a report on Thursday, March 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $23.00 target price on shares of Iris Energy in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price 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.