R Squared Ltd Invests $37,000 in Iris Energy Limited (NASDAQ:IREN)

R Squared Ltd bought a new position in Iris Energy Limited (NASDAQ:IREN) in the fourth quarter, Holdings Channel.com reports. The firm bought 3,810 shares of the company’s stock, valued at approximately $37,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its holdings in shares of Iris Energy by 56.1% during the third quarter. Van ECK Associates Corp now owns 1,605,671 shares of the company’s stock worth $13,938,000 after purchasing an additional 576,726 shares during the period. Regal Partners Ltd lifted its stake in Iris Energy by 2.7% during the 3rd quarter. Regal Partners Ltd now owns 875,303 shares of the company’s stock valued at $7,388,000 after acquiring an additional 23,132 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Iris Energy by 56.3% in the 3rd quarter. Geode Capital Management LLC now owns 735,071 shares of the company’s stock valued at $6,204,000 after acquiring an additional 264,883 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Iris Energy by 23.7% in the third quarter. Exchange Traded Concepts LLC now owns 713,635 shares of the company’s stock worth $6,023,000 after acquiring an additional 136,643 shares during the period. Finally, Rush Island Management LP purchased a new position in shares of Iris Energy during the third quarter worth $4,783,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

Iris Energy Stock Down 0.8 %

Shares of Iris Energy stock opened at $10.22 on Monday. Iris Energy Limited has a twelve month low of $3.56 and a twelve month high of $15.92. The firm’s 50-day moving average price is $11.79 and its 200 day moving average price is $9.86.

Iris Energy (NASDAQ:IREN) last issued its quarterly earnings results on Tuesday, November 26th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.11). Iris Energy had a negative return on equity of 8.01% and a negative net margin of 36.10%. As a group, analysts anticipate that Iris Energy Limited will post 0.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

IREN has been the topic of several recent research reports. BTIG Research began coverage on shares of Iris Energy in a report on Friday, December 20th. They issued a “buy” rating and a $33.00 price target on the stock. HC Wainwright raised their target price on Iris Energy from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Macquarie boosted their price target on Iris Energy from $13.50 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. B. Riley raised their price objective on shares of Iris Energy from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Cantor Fitzgerald increased their price target on shares of Iris Energy from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.50.

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.