Farther Finance Advisors LLC Acquires New Holdings in Iris Energy Limited (NASDAQ:IREN)

Farther Finance Advisors LLC acquired a new stake in Iris Energy Limited (NASDAQ:IREN) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 9,954 shares of the company’s stock, valued at approximately $98,000.

A number of other institutional investors have also made changes to their positions in the stock. HM Payson & Co. bought a new position in Iris Energy in the 4th quarter worth approximately $30,000. Charles Schwab Investment Management Inc. increased its position in Iris Energy by 96.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 710,890 shares of the company’s stock worth $6,981,000 after buying an additional 348,864 shares during the period. Central Asset Investments & Management Holdings HK Ltd bought a new position in Iris Energy in the 4th quarter worth approximately $550,000. SRN Advisors LLC bought a new position in Iris Energy in the 4th quarter worth approximately $982,000. Finally, World Equity Group Inc. bought a new position in Iris Energy in the 4th quarter worth approximately $98,000. 41.08% of the stock is owned by institutional investors.

Iris Energy Stock Down 0.8 %

Shares of IREN stock opened at $7.15 on Friday. The stock’s fifty day simple moving average is $10.05 and its 200 day simple moving average is $10.07. Iris Energy Limited has a one year low of $4.15 and a one year high of $15.92.

Iris Energy (NASDAQ:IREN) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.09 EPS for the quarter, beating 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%. Equities research analysts expect that Iris Energy Limited will post 0.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on IREN shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Iris Energy in a research report on Thursday, February 13th. B. Riley boosted their price objective on Iris Energy from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. HC Wainwright boosted their price objective on Iris Energy from $16.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. upgraded Iris Energy from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $15.00 to $12.00 in a research report on Thursday, March 13th. Finally, Macquarie boosted their price objective on Iris Energy from $13.50 to $19.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target 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.