Advantage Alpha Capital Partners LP Takes $423,000 Position in Iris Energy Limited (NASDAQ:IREN)

Advantage Alpha Capital Partners LP acquired a new position in Iris Energy Limited (NASDAQ:IREN) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 43,068 shares of the company’s stock, valued at approximately $423,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Baader Bank Aktiengesellschaft lifted its position in shares of Iris Energy by 66.7% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 125,000 shares of the company’s stock worth $1,228,000 after acquiring an additional 50,000 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in Iris Energy by 13.4% during the 4th quarter. Vontobel Holding Ltd. now owns 55,923 shares of the company’s stock worth $549,000 after purchasing an additional 6,601 shares in the last quarter. Main Management ETF Advisors LLC bought a new position in Iris Energy in the 3rd quarter worth about $760,000. Private Advisor Group LLC purchased a new position in Iris Energy during the 4th quarter valued at about $120,000. Finally, Geode Capital Management LLC increased its position in shares of Iris Energy by 56.3% during the third quarter. Geode Capital Management LLC now owns 735,071 shares of the company’s stock valued at $6,204,000 after buying an additional 264,883 shares during the period. 41.08% of the stock is owned by institutional investors.

Iris Energy Trading Up 7.6 %

Shares of Iris Energy stock opened at $7.69 on Tuesday. The business’s 50-day moving average price is $9.99 and its 200-day moving average price is $10.12. Iris Energy Limited has a 12 month low of $4.15 and a 12 month high of $15.92.

Iris Energy (NASDAQ:IREN) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.13. Iris Energy had a negative net margin of 17.94% and a negative return on equity of 3.98%. As a group, sell-side analysts anticipate that Iris Energy Limited will post 0.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IREN has been the subject of a number of analyst reports. JPMorgan Chase & Co. upgraded shares of Iris Energy from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $15.00 to $12.00 in a research report on Thursday, March 13th. B. Riley raised their price target on shares of Iris Energy from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Iris Energy in a report on Thursday, February 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $23.00 price objective on shares of Iris Energy in a research report on Thursday, February 13th. Finally, Canaccord Genuity Group boosted their target price on Iris Energy from $17.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $20.40.

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.