Entropy Technologies LP Reduces Stock Holdings in Iris Energy Limited (NASDAQ:IREN)

Entropy Technologies LP cut its stake in Iris Energy Limited (NASDAQ:IREN) by 83.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,500 shares of the company’s stock after selling 59,300 shares during the quarter. Entropy Technologies LP’s holdings in Iris Energy were worth $97,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of IREN. Russell Investments Group Ltd. purchased a new stake in shares of Iris Energy in the first quarter valued at $893,000. Vident Advisory LLC lifted its stake in Iris Energy by 58.0% in the first 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. K2 Principal Fund L.P. purchased a new position in shares of Iris Energy during the first quarter valued at approximately $675,000. PEAK6 Investments LLC purchased a new stake in shares of Iris Energy in the first quarter worth approximately $133,000. Finally, Goldentree Asset Management LP bought a new stake in shares of Iris Energy during the 1st quarter worth approximately $626,000. 41.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on IREN. Roth Capital raised Iris Energy to a “strong-buy” rating in a research report on Tuesday, October 1st. Macquarie raised their price target on shares of Iris Energy from $12.00 to $13.50 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Compass Point decreased their price objective on shares of Iris Energy from $18.50 to $16.00 and set a “buy” rating for the company in a report on Friday, August 30th. Needham & Company LLC assumed coverage on shares of Iris Energy in a research note on Wednesday, September 4th. They issued a “hold” rating on the stock. Finally, Roth Mkm started coverage on shares of Iris Energy in a research note on Wednesday, October 2nd. They set a “buy” rating and a $14.00 price target for the company. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $15.44.

Iris Energy Trading Up 3.3 %

Shares of NASDAQ:IREN opened at $10.67 on Monday. Iris Energy Limited has a 12-month low of $2.79 and a 12-month high of $15.75. The business’s fifty day simple moving average is $8.96 and its 200-day simple moving average is $9.21.

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.