Avaii Wealth Management LLC Boosts Stock Holdings in Iris Energy Limited (NASDAQ:IREN)

Avaii Wealth Management LLC raised its holdings in Iris Energy Limited (NASDAQ:IREN) by 89.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,267 shares of the company’s stock after purchasing an additional 20,013 shares during the quarter. Avaii Wealth Management LLC’s holdings in Iris Energy were worth $357,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bluefin Capital Management LLC purchased a new stake in shares of Iris Energy in the second quarter valued at approximately $113,000. AFG Fiduciary Services Limited Partnership purchased a new stake in shares of Iris Energy during the 3rd quarter worth $77,000. Seven Eight Capital LP acquired a new position in shares of Iris Energy during the 2nd quarter worth $146,000. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Iris Energy in the 2nd quarter valued at about $149,000. Finally, CCG Wealth Management LLC acquired a new stake in shares of Iris Energy in the first quarter valued at about $72,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

Wall Street Analysts Forecast Growth

IREN has been the subject of a number of research analyst reports. Roth Capital raised shares of Iris Energy to a “strong-buy” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. dropped their price objective on Iris Energy from $11.00 to $9.50 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Cantor Fitzgerald restated an “overweight” rating and issued a $20.00 price target on shares of Iris Energy in a research report on Thursday, October 3rd. Needham & Company LLC initiated coverage on shares of Iris Energy in a research report on Wednesday, September 4th. They issued a “hold” rating on the stock. Finally, Roth Mkm initiated coverage on shares of Iris Energy in a report on Wednesday, October 2nd. They issued a “buy” rating and a $14.00 target price on the stock. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Iris Energy presently has an average rating of “Buy” and an average price target of $15.44.

Iris Energy Stock Down 1.2 %

IREN traded down $0.11 on Thursday, hitting $9.24. The company had a trading volume of 7,686,673 shares, compared to its average volume of 12,630,866. The company’s fifty day moving average price is $7.89 and its 200 day moving average price is $8.41. Iris Energy Limited has a 1-year low of $2.79 and a 1-year high of $15.75.

Iris Energy Profile

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