Van ECK Associates Corp Has $13.94 Million Stock Holdings in Iris Energy Limited (NASDAQ:IREN)

Van ECK Associates Corp increased its stake in Iris Energy Limited (NASDAQ:IREN) by 56.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,605,671 shares of the company’s stock after buying an additional 576,726 shares during the quarter. Van ECK Associates Corp owned approximately 1.10% of Iris Energy worth $13,938,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Truist Financial Corp lifted its stake in Iris Energy by 3.2% in the second quarter. Truist Financial Corp now owns 51,575 shares of the company’s stock valued at $582,000 after acquiring an additional 1,575 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in Iris Energy by 13.2% during the third quarter. Chicago Partners Investment Group LLC now owns 54,515 shares of the company’s stock worth $473,000 after purchasing an additional 6,347 shares during the period. Bluefin Capital Management LLC acquired a new position in Iris Energy during the second quarter worth approximately $113,000. AFG Fiduciary Services Limited Partnership acquired a new stake in shares of Iris Energy in the third quarter valued at approximately $77,000. Finally, VitalStone Financial LLC lifted its position in shares of Iris Energy by 373.9% in the first quarter. VitalStone Financial LLC now owns 13,980 shares of the company’s stock valued at $71,000 after buying an additional 11,030 shares during the last quarter. 41.08% of the stock is owned by institutional investors.

Iris Energy Stock Up 5.1 %

IREN stock opened at $8.94 on Wednesday. Iris Energy Limited has a 52 week low of $2.79 and a 52 week high of $15.75. The business has a 50-day simple moving average of $8.32 and a 200 day simple moving average of $8.85.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Compass Point dropped their price target on Iris Energy from $18.50 to $16.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Roth Mkm initiated 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 for the company. JPMorgan Chase & Co. decreased their price target on shares of Iris Energy from $11.00 to $9.50 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Roth Capital upgraded shares of Iris Energy to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, Needham & Company LLC assumed coverage on Iris Energy in a research report on Wednesday, September 4th. They issued a “hold” rating on the stock. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $15.44.

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.