Matauro LLC Decreases Stake in Iris Energy Limited (NASDAQ:IREN)

Matauro LLC lessened its stake in Iris Energy Limited (NASDAQ:IREN) by 9.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 31,521 shares of the company’s stock after selling 3,308 shares during the quarter. Matauro LLC’s holdings in Iris Energy were worth $192,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Arrowstreet Capital Limited Partnership lifted its stake in Iris Energy by 1,307.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,684,836 shares of the company’s stock worth $55,825,000 after purchasing an additional 5,280,999 shares during the last quarter. Vident Advisory LLC lifted its stake in Iris Energy by 26.1% during the fourth quarter. Vident Advisory LLC now owns 2,937,918 shares of the company’s stock worth $28,850,000 after purchasing an additional 608,736 shares during the last quarter. Invesco Ltd. lifted its stake in Iris Energy by 22.5% during the fourth quarter. Invesco Ltd. now owns 2,311,583 shares of the company’s stock worth $22,700,000 after purchasing an additional 424,403 shares during the last quarter. Regal Partners Ltd lifted its stake in Iris Energy by 93.9% during the fourth quarter. Regal Partners Ltd now owns 1,697,554 shares of the company’s stock worth $16,670,000 after purchasing an additional 822,251 shares during the last quarter. Finally, Two Sigma Investments LP lifted its stake in Iris Energy by 193.2% during the fourth quarter. Two Sigma Investments LP now owns 1,602,642 shares of the company’s stock worth $15,738,000 after purchasing an additional 1,056,005 shares during the last quarter. Hedge funds and other institutional investors own 41.08% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on IREN. Canaccord Genuity Group restated a “buy” rating and set a $23.00 target price on shares of Iris Energy in a research note on Friday, May 16th. JPMorgan Chase & Co. raised Iris Energy from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $15.00 to $12.00 in a research report on Thursday, March 13th. HC Wainwright cut their price target on Iris Energy from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, May 15th. B. Riley lifted their price target on Iris Energy from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Finally, Macquarie lifted their price target on Iris Energy from $15.50 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.30.

Iris Energy Stock Down 3.3%

Iris Energy stock opened at $9.83 on Friday. Iris Energy Limited has a 12-month low of $5.13 and a 12-month high of $15.92. The firm’s 50-day moving average is $7.54 and its two-hundred day moving average is $9.37.

Iris Energy (NASDAQ:IREN) last announced its earnings results on Wednesday, May 14th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.06). Iris Energy had a negative return on equity of 3.98% and a negative net margin of 17.94%. The firm had revenue of $148.10 million for the quarter, compared to analyst estimates of $153.38 million. On average, research analysts anticipate that Iris Energy Limited will post 0.43 EPS 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.