Iris Energy Limited (NASDAQ:IREN) Shares Acquired by Quadrature Capital Ltd

Quadrature Capital Ltd grew its stake in shares of Iris Energy Limited (NASDAQ:IREN) by 719.8% in the 4th quarter, HoldingsChannel reports. The firm owned 232,312 shares of the company’s stock after acquiring an additional 203,976 shares during the quarter. Quadrature Capital Ltd’s holdings in Iris Energy were worth $1,655,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Van ECK Associates Corp boosted its stake in Iris Energy by 32.9% in the 4th quarter. Van ECK Associates Corp now owns 1,485,909 shares of the company’s stock worth $10,624,000 after purchasing an additional 368,140 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Iris Energy by 52.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,037,420 shares of the company’s stock worth $7,418,000 after buying an additional 356,752 shares during the period. Exchange Traded Concepts LLC grew its holdings in shares of Iris Energy by 47.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 613,818 shares of the company’s stock valued at $4,389,000 after buying an additional 196,635 shares in the last quarter. Commerce Bank acquired a new position in Iris Energy during the fourth quarter valued at $256,000. Finally, Vontobel Holding Ltd. lifted its stake in Iris Energy by 123.2% in the 4th quarter. Vontobel Holding Ltd. now owns 62,791 shares of the company’s stock worth $449,000 after acquiring an additional 34,662 shares in the last quarter. Institutional investors and hedge funds own 41.08% of the company’s stock.

Iris Energy Stock Down 3.5 %

Shares of IREN opened at $13.95 on Wednesday. The firm’s 50 day moving average price is $7.04 and its 200 day moving average price is $6.19. Iris Energy Limited has a twelve month low of $2.79 and a twelve month high of $14.95.

Iris Energy (NASDAQ:IREN) last released its quarterly earnings results on Wednesday, May 15th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.04). The firm had revenue of $54.35 million for the quarter, compared to analyst estimates of $58.41 million. As a group, equities analysts forecast that Iris Energy Limited will post 0.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on IREN shares. JPMorgan Chase & Co. raised their price objective on Iris Energy from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 4th. Canaccord Genuity Group raised their price target on shares of Iris Energy from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. B. Riley dropped their price objective on shares of Iris Energy from $10.00 to $9.50 and set a “buy” rating on the stock in a research note on Friday, March 15th. HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of Iris Energy in a research note on Thursday, May 16th. Finally, Cantor Fitzgerald raised shares of Iris Energy to a “strong-buy” rating in a research note on Wednesday, June 12th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $14.92.

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.