Central Asset Investments & Management Holdings HK Ltd Takes Position in Iris Energy Limited (NASDAQ:IREN)

Central Asset Investments & Management Holdings HK Ltd bought a new stake in Iris Energy Limited (NASDAQ:IREN) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 55,964 shares of the company’s stock, valued at approximately $550,000.

Several other hedge funds have also bought and sold shares of IREN. Van ECK Associates Corp increased its position in 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 buying an additional 576,726 shares during the last quarter. Regal Partners Ltd boosted its stake in shares of Iris Energy by 2.7% during the 3rd quarter. Regal Partners Ltd now owns 875,303 shares of the company’s stock worth $7,388,000 after acquiring an additional 23,132 shares during the period. Geode Capital Management LLC increased its holdings in shares of Iris Energy by 56.3% during the 3rd quarter. Geode Capital Management LLC now owns 735,071 shares of the company’s stock worth $6,204,000 after acquiring an additional 264,883 shares during the last quarter. Rush Island Management LP bought a new stake in Iris Energy in the 3rd quarter valued at $4,783,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Iris Energy by 8.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 362,026 shares of the company’s stock valued at $3,055,000 after purchasing an additional 29,311 shares during the last quarter. 41.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the stock. HC Wainwright upped their price objective on shares of Iris Energy from $16.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $23.00 price target on shares of Iris Energy in a research note on Thursday, February 13th. Macquarie increased their price target on shares of Iris Energy from $13.50 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Needham & Company LLC restated a “hold” rating on shares of Iris Energy in a report on Thursday, February 13th. Finally, B. Riley increased their target price on Iris Energy from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Iris Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.70.

Iris Energy Price Performance

Shares of NASDAQ:IREN opened at $8.49 on Thursday. The business’s 50 day simple moving average is $11.29 and its 200 day simple moving average is $10.16. Iris Energy Limited has a 1 year low of $4.15 and a 1 year high of $15.92.

Iris Energy (NASDAQ:IREN) last released its earnings results on Wednesday, February 12th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.13. Iris Energy had a negative return on equity of 3.98% and a negative net margin of 17.94%. On average, equities analysts predict that Iris Energy Limited will post 0.43 EPS for the current year.

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.