Ardsley Advisory Partners LP Sells 175,000 Shares of Iris Energy Limited (NASDAQ:IREN)

Ardsley Advisory Partners LP reduced its position in shares of Iris Energy Limited (NASDAQ:IREN) by 28.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 450,000 shares of the company’s stock after selling 175,000 shares during the quarter. Ardsley Advisory Partners LP’s holdings in Iris Energy were worth $4,419,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in IREN. Stonebridge Financial Group LLC bought a new position in shares of Iris Energy during the fourth quarter valued at about $29,000. HM Payson & Co. purchased a new position in Iris Energy during the 4th quarter valued at about $30,000. R Squared Ltd bought a new position in Iris Energy during the 4th quarter valued at approximately $37,000. Tower Research Capital LLC TRC lifted its holdings in Iris Energy by 1,059.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,368 shares of the company’s stock worth $82,000 after buying an additional 7,646 shares during the period. Finally, World Equity Group Inc. purchased a new stake in Iris Energy in the 4th quarter worth approximately $98,000. Hedge funds and other institutional investors own 41.08% of the company’s stock.

Iris Energy Price Performance

NASDAQ:IREN opened at $6.53 on Friday. Iris Energy Limited has a one year low of $4.65 and a one year high of $15.92. The company’s 50-day simple moving average is $6.57 and its 200 day simple moving average is $9.67.

Iris Energy (NASDAQ:IREN) last issued 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 return on equity of 3.98% and a negative net margin of 17.94%. On average, equities research analysts anticipate that Iris Energy Limited will post 0.43 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on IREN shares. Canaccord Genuity Group upped their target price on Iris Energy from $17.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $23.00 price objective on shares of Iris Energy in a report on Thursday, February 13th. HC Wainwright raised their target price on shares of Iris Energy from $16.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. upgraded shares of Iris Energy from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $15.00 to $12.00 in a research report on Thursday, March 13th. Finally, Needham & Company LLC restated a “hold” rating on shares of Iris Energy in a report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Iris Energy currently has a consensus rating of “Buy” and an average target price of $20.40.

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.