Iris Energy Limited (NASDAQ:IREN) Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership raised its position in shares of Iris Energy Limited (NASDAQ:IREN) by 1,307.7% in the fourth quarter, HoldingsChannel reports. The firm owned 5,684,836 shares of the company’s stock after acquiring an additional 5,280,999 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Iris Energy were worth $55,825,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Highbridge Capital Management LLC bought a new position in Iris Energy in the 4th quarter worth approximately $1,519,000. X Square Capital LLC boosted its position in Iris Energy by 87.8% during the 4th quarter. X Square Capital LLC now owns 168,990 shares of the company’s stock worth $1,659,000 after acquiring an additional 78,990 shares during the period. Sava Infond d.o.o. bought a new position in shares of Iris Energy in the fourth quarter worth $167,000. JPMorgan Chase & Co. acquired a new position in shares of Iris Energy during the fourth quarter valued at $587,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Iris Energy during the fourth quarter valued at about $179,000. Institutional investors own 41.08% of the company’s stock.

Analyst Upgrades and Downgrades

IREN has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Iris Energy in a research report on Thursday, February 13th. 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. Canaccord Genuity Group upped their target price on Iris Energy from $17.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $23.00 price target on shares of Iris Energy in a research report on Thursday, February 13th. Finally, Macquarie upped their price objective on Iris Energy from $13.50 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $20.40.

Iris Energy Stock Up 9.0 %

Shares of IREN stock opened at $6.64 on Wednesday. Iris Energy Limited has a 1 year low of $4.15 and a 1 year high of $15.92. The firm’s fifty day simple moving average is $9.41 and its 200 day simple moving average is $10.10.

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

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.