Short Interest in Iris Energy Limited (NASDAQ:IREN) Expands By 28.9%

Iris Energy Limited (NASDAQ:IREN) was the recipient of a large increase in short interest in January. As of January 31st, there was short interest totalling 20,590,000 shares, an increase of 28.9% from the January 15th total of 15,970,000 shares. Currently, 11.4% of the company’s stock are short sold. Based on an average trading volume of 17,350,000 shares, the short-interest ratio is presently 1.2 days.

Institutional Trading of Iris Energy

Several large investors have recently added to or reduced their stakes in the company. Baader Bank Aktiengesellschaft lifted its holdings in shares of Iris Energy by 66.7% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 125,000 shares of the company’s stock valued at $1,228,000 after buying an additional 50,000 shares during the period. Main Management ETF Advisors LLC acquired a new position in shares of Iris Energy in the 3rd quarter valued at about $760,000. Van ECK Associates Corp lifted its holdings in shares of Iris Energy by 56.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,671 shares of the company’s stock valued at $13,938,000 after buying an additional 576,726 shares during the period. Vontobel Holding Ltd. lifted its holdings in shares of Iris Energy by 123.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 49,322 shares of the company’s stock valued at $416,000 after buying an additional 27,212 shares during the period. Finally, Creative Planning lifted its holdings in shares of Iris Energy by 71.2% in the 3rd quarter. Creative Planning now owns 457,625 shares of the company’s stock valued at $3,862,000 after buying an additional 190,300 shares during the period. Hedge funds and other institutional investors own 41.08% of the company’s stock.

Iris Energy Stock Down 0.5 %

Iris Energy stock traded down $0.07 during trading hours on Friday, hitting $13.01. 14,086,829 shares of the stock traded hands, compared to its average volume of 16,815,508. The firm’s 50 day moving average price is $11.65 and its 200-day moving average price is $9.99. Iris Energy 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 results on Wednesday, February 12th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.13. Iris Energy had a negative return on equity of 8.01% and a negative net margin of 36.10%. Equities analysts anticipate that Iris Energy will post 0.11 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on IREN shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 price target on shares of Iris Energy in a research report on Thursday. BTIG Research assumed coverage on Iris Energy in a research note on Friday, December 20th. They set a “buy” rating and a $33.00 target price on the stock. B. Riley boosted 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. 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 note on Thursday. Finally, HC Wainwright boosted their target price on Iris Energy from $16.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday. 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.70.

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.