Advantage Alpha Capital Partners LP Invests $423,000 in Iris Energy Limited (NASDAQ:IREN)

Advantage Alpha Capital Partners LP bought a new stake in Iris Energy Limited (NASDAQ:IREN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 43,068 shares of the company’s stock, valued at approximately $423,000.

Other institutional investors have also added to or reduced their stakes in the company. Sippican Capital Advisors increased its holdings in shares of Iris Energy by 15.1% during the fourth quarter. Sippican Capital Advisors now owns 12,780 shares of the company’s stock valued at $126,000 after acquiring an additional 1,680 shares in the last quarter. Drive Wealth Management LLC increased its stake in Iris Energy by 5.8% during the 4th quarter. Drive Wealth Management LLC now owns 39,690 shares of the company’s stock valued at $390,000 after purchasing an additional 2,193 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in Iris Energy during the 4th quarter valued at $29,000. HM Payson & Co. acquired a new position in Iris Energy during the fourth quarter worth $30,000. Finally, R Squared Ltd bought a new position in shares of Iris Energy in the fourth quarter valued at $37,000. 41.08% of the stock is owned by institutional investors and hedge funds.

Iris Energy Stock Performance

NASDAQ IREN opened at $7.69 on Tuesday. Iris Energy Limited has a 52-week low of $4.15 and a 52-week high of $15.92. The company has a 50-day simple moving average of $9.99 and a 200 day simple moving average of $10.12.

Iris Energy (NASDAQ:IREN) last posted its quarterly earnings results 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 net margin of 17.94% and a negative return on equity of 3.98%. As a group, analysts anticipate that Iris Energy Limited will post 0.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Macquarie raised their price target on shares of Iris Energy from $13.50 to $19.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group lifted their target price on Iris Energy from $17.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Needham & Company LLC reissued a “hold” rating on shares of Iris Energy in a research report on Thursday, February 13th. B. Riley lifted their price objective on shares of Iris Energy from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $23.00 target price on shares of Iris Energy in a research note on Thursday, February 13th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $20.40.

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.