Wellington Management Group LLP Buys 8,092 Shares of Iris Energy Limited (NASDAQ:IREN)

Wellington Management Group LLP increased its position in Iris Energy Limited (NASDAQ:IREN) by 28.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,651 shares of the company’s stock after acquiring an additional 8,092 shares during the quarter. Wellington Management Group LLP’s holdings in Iris Energy were worth $309,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IREN. Central Asset Investments & Management Holdings HK Ltd purchased a new stake in shares of Iris Energy in the second quarter worth $779,000. Van ECK Associates Corp boosted its holdings in Iris Energy by 56.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,671 shares of the company’s stock worth $13,938,000 after buying an additional 576,726 shares during the period. Vontobel Holding Ltd. increased its stake in Iris Energy by 123.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 49,322 shares of the company’s stock worth $416,000 after buying an additional 27,212 shares in the last quarter. Creative Planning raised its holdings in Iris Energy by 71.2% during the third quarter. Creative Planning now owns 457,625 shares of the company’s stock valued at $3,862,000 after acquiring an additional 190,300 shares during the period. Finally, Campbell Capital Management Inc. purchased a new position in shares of Iris Energy in the third quarter valued at about $608,000. Institutional investors own 41.08% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on IREN. BTIG Research assumed coverage on Iris Energy in a research report on Friday. They set a “buy” rating and a $33.00 target price for the company. Cantor Fitzgerald increased their price objective on shares of Iris Energy from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Needham & Company LLC reissued a “hold” rating on shares of Iris Energy in a report on Wednesday, November 27th. HC Wainwright raised their target price on shares of Iris Energy from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Finally, Macquarie boosted their price target on shares of Iris Energy from $13.50 to $19.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Iris Energy has an average rating of “Moderate Buy” and an average price target of $19.50.

Iris Energy Price Performance

Shares of NASDAQ:IREN opened at $11.81 on Friday. The firm has a fifty day simple moving average of $11.09 and a two-hundred day simple moving average of $10.20. Iris Energy Limited has a 52 week low of $3.56 and a 52 week high of $15.92.

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.