SageView Advisory Group LLC Sells 5,139 Shares of Iris Energy Limited (NASDAQ:IREN)

SageView Advisory Group LLC trimmed its stake in shares of Iris Energy Limited (NASDAQ:IREN) by 13.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 32,480 shares of the company’s stock after selling 5,139 shares during the quarter. SageView Advisory Group LLC’s holdings in Iris Energy were worth $319,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on IREN shares. Canaccord Genuity Group increased their price objective on Iris Energy from $17.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. raised Iris Energy from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $15.00 to $12.00 in a report on Thursday, March 13th. BTIG Research assumed coverage on Iris Energy in a report on Friday, December 20th. They set a “buy” rating and a $33.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $23.00 price objective on shares of Iris Energy in a research report on Thursday, February 13th. Finally, HC Wainwright lifted their target price on shares of Iris Energy from $16.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a hold rating, ten have assigned 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 $20.40.

Iris Energy Stock Performance

IREN opened at $5.45 on Wednesday. The stock’s 50 day simple moving average is $8.15 and its 200 day simple moving average is $9.86. Iris Energy Limited has a 1 year low of $4.15 and a 1 year high of $15.92.

Iris Energy (NASDAQ:IREN) last issued its earnings results on Wednesday, February 12th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Analysts expect that Iris Energy Limited will post 0.43 EPS for the current fiscal 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.