Headlands Technologies LLC Sells 436,329 Shares of Iris Energy Limited (NASDAQ:IREN)

Headlands Technologies LLC lowered its holdings in Iris Energy Limited (NASDAQ:IREN) by 94.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,063 shares of the company’s stock after selling 436,329 shares during the quarter. Headlands Technologies LLC’s holdings in Iris Energy were worth $246,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in Iris Energy by 8.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 362,026 shares of the company’s stock worth $3,055,000 after buying an additional 29,311 shares in the last quarter. SageView Advisory Group LLC raised its position in shares of Iris Energy by 202.2% in the 3rd quarter. SageView Advisory Group LLC now owns 37,619 shares of the company’s stock worth $318,000 after acquiring an additional 25,169 shares in the last quarter. State Street Corp lifted its stake in shares of Iris Energy by 62.2% during the 3rd quarter. State Street Corp now owns 79,759 shares of the company’s stock worth $673,000 after purchasing an additional 30,576 shares during the last quarter. Wellington Management Group LLP boosted its position in Iris Energy by 28.3% during the third quarter. Wellington Management Group LLP now owns 36,651 shares of the company’s stock valued at $309,000 after purchasing an additional 8,092 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC purchased a new position in Iris Energy in the third quarter valued at about $927,000. Hedge funds and other institutional investors own 41.08% of the company’s stock.

Iris Energy Stock Performance

Shares of NASDAQ:IREN opened at $5.94 on Friday. The business has a 50-day moving average price of $9.04 and a 200-day moving average price of $10.03. Iris Energy Limited has a 52-week low of $4.15 and a 52-week 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 (EPS) for the quarter, topping 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%. Analysts forecast that Iris Energy Limited will post 0.43 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on IREN shares. Cantor Fitzgerald restated an “overweight” rating and issued a $23.00 price target on shares of Iris Energy in a report on Thursday, February 13th. Canaccord Genuity Group raised their target price on shares of Iris Energy from $17.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. raised Iris Energy from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $15.00 to $12.00 in a research report on Thursday, March 13th. BTIG Research began coverage on Iris Energy in a report on Friday, December 20th. They set a “buy” rating and a $33.00 price objective for the company. Finally, Needham & Company LLC restated a “hold” rating on shares of Iris Energy in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $20.40.

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.