Van ECK Associates Corp Has $11.62 Million Stock Holdings in Iris Energy Limited (NASDAQ:IREN)

Van ECK Associates Corp lessened its holdings in shares of Iris Energy Limited (NASDAQ:IREN) by 44.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,028,945 shares of the company’s stock after selling 808,738 shares during the period. Van ECK Associates Corp owned approximately 0.70% of Iris Energy worth $11,616,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Counterpoint Mutual Funds LLC acquired a new position in Iris Energy in the 4th quarter valued at approximately $84,000. CCG Wealth Management LLC acquired a new position in Iris Energy in the 1st quarter valued at approximately $72,000. VitalStone Financial LLC raised its holdings in Iris Energy by 373.9% in the 1st quarter. VitalStone Financial LLC now owns 13,980 shares of the company’s stock valued at $71,000 after acquiring an additional 11,030 shares in the last quarter. Olympiad Research LP acquired a new position in Iris Energy in the 4th quarter valued at approximately $173,000. Finally, PEAK6 Investments LLC acquired a new position in Iris Energy in the 1st quarter valued at approximately $133,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

Iris Energy Stock Performance

Shares of NASDAQ IREN opened at $7.91 on Monday. The business has a 50-day moving average of $10.17 and a 200-day moving average of $7.92. Iris Energy Limited has a fifty-two week low of $2.79 and a fifty-two week high of $15.75.

Analysts Set New Price Targets

IREN has been the topic of several analyst reports. HC Wainwright lowered their price objective on Iris Energy from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday. Canaccord Genuity Group reiterated a “buy” rating and issued a $15.00 price objective on shares of Iris Energy in a research note on Thursday. Cantor Fitzgerald lowered their price objective on Iris Energy from $23.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday. Macquarie upped their price objective on Iris Energy from $12.00 to $13.50 and gave the company an “outperform” rating in a research note on Friday. Finally, JPMorgan Chase & Co. lowered their price objective on Iris Energy from $11.00 to $9.50 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $16.25.

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.