3,101 Shares in Iris Energy Limited (NASDAQ:IREN) Acquired by HM Payson & Co.

HM Payson & Co. purchased a new position in Iris Energy Limited (NASDAQ:IREN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,101 shares of the company’s stock, valued at approximately $30,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new stake in Iris Energy during the fourth quarter worth approximately $29,000. R Squared Ltd acquired a new stake in Iris Energy during the fourth quarter worth approximately $37,000. Covestor Ltd acquired a new stake in Iris Energy during the third quarter worth approximately $87,000. World Equity Group Inc. acquired a new stake in Iris Energy during the fourth quarter worth approximately $98,000. Finally, Private Advisor Group LLC acquired a new stake in Iris Energy during the fourth quarter worth approximately $120,000. Hedge funds and other institutional investors own 41.08% of the company’s stock.

Iris Energy Trading Down 14.0 %

NASDAQ:IREN opened at $6.62 on Tuesday. The firm’s fifty day moving average price is $10.78 and its 200 day moving average price is $10.17. Iris Energy Limited has a 1-year low of $4.15 and a 1-year high of $15.92.

Iris Energy (NASDAQ:IREN) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Research analysts expect that Iris Energy Limited will post 0.43 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IREN. Macquarie raised their price objective on shares of Iris Energy from $13.50 to $19.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. BTIG Research initiated coverage on shares of Iris Energy in a report on Friday, December 20th. They set a “buy” rating and a $33.00 price objective on the stock. B. Riley lifted their target price 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. Canaccord Genuity Group lifted their target price on shares of Iris Energy from $17.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Iris Energy in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Iris Energy has an average rating of “Moderate Buy” and a consensus price target of $20.70.

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.