Iris Energy Limited (NASDAQ:IREN) Shares Acquired by Phoenix Financial Ltd.

Phoenix Financial Ltd. boosted its stake in Iris Energy Limited (NASDAQ:IREN) by 40.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,559 shares of the company’s stock after buying an additional 14,021 shares during the period. Phoenix Financial Ltd.’s holdings in Iris Energy were worth $477,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Stonebridge Financial Group LLC bought a new stake in Iris Energy in the 4th quarter valued at about $29,000. HM Payson & Co. acquired a new position in shares of Iris Energy during the fourth quarter worth approximately $30,000. R Squared Ltd bought a new position in Iris Energy in the 4th quarter worth approximately $37,000. Farther Finance Advisors LLC acquired a new stake in Iris Energy in the 4th quarter valued at approximately $98,000. Finally, World Equity Group Inc. bought a new stake in Iris Energy during the 4th quarter valued at $98,000. 41.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on IREN. BTIG Research began coverage on Iris Energy in a research note on Friday, December 20th. They issued a “buy” rating and a $33.00 price target for the company. JPMorgan Chase & Co. upgraded shares of Iris Energy from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $15.00 to $12.00 in a research report on Thursday, March 13th. Needham & Company LLC restated a “hold” rating on shares of Iris Energy in a research report on Thursday, February 13th. Canaccord Genuity Group increased their price objective on shares of Iris Energy from $17.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, HC Wainwright raised their price objective on shares of Iris Energy from $16.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $20.40.

Iris Energy Stock Performance

Shares of NASDAQ:IREN opened at $5.63 on Friday. Iris Energy Limited has a 1-year low of $4.15 and a 1-year high of $15.92. The company has a 50 day moving average price of $8.38 and a 200 day moving average price of $9.91.

Iris Energy (NASDAQ:IREN) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate 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%. Sell-side analysts predict 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.