Schonfeld Strategic Advisors LLC Sells 3,484 Shares of Iris Energy Limited (NASDAQ:IREN)

Schonfeld Strategic Advisors LLC cut its position in shares of Iris Energy Limited (NASDAQ:IREN) by 6.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,255 shares of the company’s stock after selling 3,484 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Iris Energy were worth $484,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sippican Capital Advisors boosted its holdings in shares of Iris Energy by 15.1% during the 4th quarter. Sippican Capital Advisors now owns 12,780 shares of the company’s stock valued at $126,000 after buying an additional 1,680 shares in the last quarter. Drive Wealth Management LLC lifted its position in Iris Energy by 5.8% during the 4th quarter. Drive Wealth Management LLC now owns 39,690 shares of the company’s stock valued at $390,000 after acquiring an additional 2,193 shares during the period. Stonebridge Financial Group LLC bought a new stake in Iris Energy during the fourth quarter worth about $29,000. HM Payson & Co. purchased a new stake in Iris Energy in the fourth quarter worth about $30,000. Finally, R Squared Ltd bought a new position in shares of Iris Energy during the fourth quarter valued at approximately $37,000. 41.08% of the stock is owned by hedge funds and other institutional investors.

Iris Energy Stock Up 2.3 %

Shares of IREN stock opened at $7.05 on Friday. Iris Energy Limited has a 12 month low of $4.65 and a 12 month high of $15.92. The company has a 50 day simple moving average of $6.44 and a two-hundred day simple moving average of $9.59.

Iris Energy (NASDAQ:IREN) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates 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%. On average, research analysts expect that Iris Energy Limited will post 0.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IREN has been the subject of a number of recent research reports. 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 note on Thursday, March 13th. Canaccord Genuity Group upped their price target on shares of Iris Energy from $17.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. HC Wainwright lifted their target price on shares of Iris Energy from $16.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $23.00 price target on shares of Iris Energy in a report on Thursday, February 13th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Iris Energy in a research report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Iris Energy presently has an average rating of “Buy” and an average target price of $20.40.

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.