440,276 Shares in Iris Energy Limited (NASDAQ:IREN) Bought by Twinbeech Capital LP

Twinbeech Capital LP bought a new position in shares of Iris Energy Limited (NASDAQ:IREN) in the 4th quarter, Holdings Channel.com reports. The fund bought 440,276 shares of the company’s stock, valued at approximately $4,324,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership boosted its position in shares of Iris Energy by 1,307.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,684,836 shares of the company’s stock worth $55,825,000 after acquiring an additional 5,280,999 shares in the last quarter. Discovery Capital Management LLC CT acquired a new stake in Iris Energy during the 4th quarter worth approximately $11,544,000. Two Sigma Investments LP raised its stake in shares of Iris Energy by 193.2% during the 4th quarter. Two Sigma Investments LP now owns 1,602,642 shares of the company’s stock worth $15,738,000 after buying an additional 1,056,005 shares in the last quarter. Regal Partners Ltd raised its stake in shares of Iris Energy by 93.9% during the 4th quarter. Regal Partners Ltd now owns 1,697,554 shares of the company’s stock worth $16,670,000 after buying an additional 822,251 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. purchased a new position in shares of Iris Energy during the 4th quarter worth approximately $7,162,000. 41.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on IREN shares. JPMorgan Chase & Co. raised Iris Energy from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $15.00 to $12.00 in a research note on Thursday, March 13th. Needham & Company LLC restated a “hold” rating on shares of Iris Energy in a report on Thursday, February 13th. Canaccord Genuity Group reiterated a “buy” rating and issued a $23.00 target price on shares of Iris Energy in a report on Friday, May 16th. Macquarie lifted their target price on Iris Energy from $15.50 to $20.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Finally, B. Riley boosted their price objective on Iris Energy from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. One research 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 data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $20.30.

Iris Energy Trading Up 0.8%

Shares of NASDAQ:IREN opened at $8.61 on Wednesday. Iris Energy Limited has a 1 year low of $5.13 and a 1 year high of $15.92. The business has a fifty day simple moving average of $6.56 and a 200 day simple moving average of $9.51.

Iris Energy (NASDAQ:IREN) last issued its quarterly earnings results on Wednesday, May 14th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.06). The business had revenue of $148.10 million during the quarter, compared to analyst estimates of $153.38 million. 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 earnings per share for the current fiscal year.

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.