Scientech Research LLC Purchases 30,835 Shares of Iris Energy Limited (NASDAQ:IREN)

Scientech Research LLC increased its position in shares of Iris Energy Limited (NASDAQ:IREN) by 174.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 48,541 shares of the company’s stock after acquiring an additional 30,835 shares during the period. Scientech Research LLC’s holdings in Iris Energy were worth $548,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of IREN. D1 Capital Partners L.P. bought a new position in shares of Iris Energy during the 2nd quarter worth approximately $17,319,000. Hood River Capital Management LLC purchased a new stake in Iris Energy during the 2nd quarter worth approximately $13,618,000. Marshall Wace LLP grew its position in Iris Energy by 33.6% during the 2nd quarter. Marshall Wace LLP now owns 3,811,780 shares of the company’s stock worth $43,035,000 after purchasing an additional 958,494 shares during the last quarter. Bank of Montreal Can purchased a new stake in Iris Energy during the 2nd quarter worth approximately $9,969,000. Finally, Vident Advisory LLC grew its position in Iris Energy by 58.0% during the 1st quarter. Vident Advisory LLC now owns 1,954,998 shares of the company’s stock worth $10,557,000 after purchasing an additional 717,843 shares during the last quarter. Institutional investors own 41.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. HC Wainwright dropped their target price on shares of Iris Energy from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Macquarie boosted their target price on shares of Iris Energy from $12.00 to $13.50 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Needham & Company LLC assumed coverage on shares of Iris Energy in a research report on Wednesday, September 4th. They set a “hold” rating on the stock. Cantor Fitzgerald dropped their target price on shares of Iris Energy from $23.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, August 29th. Finally, Compass Point dropped their price objective on shares of Iris Energy from $18.50 to $16.00 and set a “buy” rating on the stock in a report on Friday, August 30th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.63.

Iris Energy Stock Down 3.1 %

IREN stock opened at $8.85 on Friday. The firm’s fifty day simple moving average is $8.21 and its 200-day simple moving average is $8.13. Iris Energy Limited has a 12 month low of $2.79 and a 12 month high of $15.75.

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.