Crestline Management LP Buys New Shares in Iris Energy Limited (NASDAQ:IREN)

Crestline Management LP bought a new stake in Iris Energy Limited (NASDAQ:IREN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 16,578 shares of the company’s stock, valued at approximately $163,000.

A number of other hedge funds have also added to or reduced their stakes in IREN. Stonebridge Financial Group LLC bought a new position in Iris Energy in the fourth quarter valued at $29,000. HM Payson & Co. bought a new position in Iris Energy in the fourth quarter valued at $30,000. R Squared Ltd bought a new position in Iris Energy in the fourth quarter valued at $37,000. Tower Research Capital LLC TRC grew its position in Iris Energy by 1,059.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,368 shares of the company’s stock valued at $82,000 after purchasing an additional 7,646 shares in the last quarter. Finally, World Equity Group Inc. bought a new position in shares of Iris Energy in the 4th quarter valued at about $98,000. Institutional investors own 41.08% of the company’s stock.

Iris Energy Price Performance

NASDAQ IREN opened at $7.05 on Monday. Iris Energy Limited has a 12-month low of $4.65 and a 12-month high of $15.92. The firm has a 50-day moving average price of $6.44 and a two-hundred day moving average price of $9.59.

Iris Energy (NASDAQ:IREN) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.09 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts predict that Iris Energy Limited will post 0.43 EPS for the current year.

Analyst Ratings Changes

IREN has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised shares of Iris Energy from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $15.00 to $12.00 in a research report on Thursday, March 13th. Needham & Company LLC reissued a “hold” rating on shares of Iris Energy in a research report on Thursday, February 13th. Canaccord Genuity Group lifted their price objective on shares of Iris Energy from $17.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Cantor Fitzgerald reissued 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 price objective 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 investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Iris Energy presently has a consensus rating of “Buy” and a consensus price target of $20.40.

Iris Energy Company Profile

Iris Energy Limited owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.