Drive Wealth Management LLC Purchases New Holdings in Iris Energy Limited (NASDAQ:IREN)

Drive Wealth Management LLC bought a new stake in Iris Energy Limited (NASDAQ:IREN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 37,497 shares of the company’s stock, valued at approximately $316,000.

A number of other institutional investors have also recently bought and sold shares of the business. Chesapeake Capital Corp IL increased its stake in Iris Energy by 27.9% in the third quarter. Chesapeake Capital Corp IL now owns 17,695 shares of the company’s stock valued at $157,000 after acquiring an additional 3,861 shares during the period. Evolution Wealth Advisors LLC acquired a new position in Iris Energy during the third quarter worth $372,000. Regal Partners Ltd lifted its holdings in shares of Iris Energy by 2.7% during the third 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. GSA Capital Partners LLP boosted its stake in shares of Iris Energy by 49.7% in the 3rd quarter. GSA Capital Partners LLP now owns 49,482 shares of the company’s stock valued at $418,000 after purchasing an additional 16,435 shares in the last quarter. Finally, Covestor Ltd acquired a new position in Iris Energy in the third quarter valued at about $87,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

Iris Energy Stock Down 3.9 %

Shares of Iris Energy stock opened at $10.25 on Tuesday. The stock’s fifty day simple moving average is $9.02 and its 200 day simple moving average is $9.25. Iris Energy Limited has a 12 month low of $2.84 and a 12 month high of $15.75.

Analyst Ratings Changes

Several research analysts have recently commented on IREN shares. Compass Point reduced their target price on Iris Energy from $18.50 to $16.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 price target on shares of Iris Energy in a report on Wednesday, October 30th. Roth Mkm assumed coverage on Iris Energy in a research report on Wednesday, October 2nd. They set a “buy” rating and a $14.00 target price for the company. Roth Capital raised shares of Iris Energy to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, Needham & Company LLC began coverage on shares of Iris Energy in a research report on Wednesday, September 4th. They set a “hold” rating for the company. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $15.44.

Iris Energy Company Profile

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