440,276 Shares in Iris Energy Limited (NASDAQ:IREN) Acquired by Twinbeech Capital LP

Twinbeech Capital LP acquired a new position in shares of Iris Energy Limited (NASDAQ:IREN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 440,276 shares of the company’s stock, valued at approximately $4,324,000. Twinbeech Capital LP owned approximately 0.23% of Iris Energy as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Sippican Capital Advisors lifted its position in Iris Energy by 15.1% during the fourth quarter. Sippican Capital Advisors now owns 12,780 shares of the company’s stock worth $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 fourth quarter. Drive Wealth Management LLC now owns 39,690 shares of the company’s stock worth $390,000 after buying an additional 2,193 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in Iris Energy during the fourth quarter worth approximately $29,000. HM Payson & Co. purchased a new position in Iris Energy during the fourth quarter worth approximately $30,000. Finally, R Squared Ltd purchased a new position in Iris Energy during the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 41.08% of the company’s stock.

Iris Energy Stock Up 0.8%

Shares of NASDAQ IREN opened at $8.61 on Wednesday. Iris Energy Limited has a twelve month low of $5.13 and a twelve month high of $15.92. The stock has a fifty day simple moving average of $6.56 and a 200-day simple moving average of $9.51.

Iris Energy (NASDAQ:IREN) last issued its quarterly earnings data on Wednesday, May 14th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.06). Iris Energy had a negative net margin of 17.94% and a negative return on equity of 3.98%. The firm had revenue of $148.10 million during the quarter, compared to analyst estimates of $153.38 million. As a group, analysts anticipate that Iris Energy Limited will post 0.43 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. HC Wainwright reduced their price objective on Iris Energy from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, May 15th. Needham & Company LLC restated a “hold” rating on shares of Iris Energy in a research report on Thursday, February 13th. B. Riley lifted their target price on Iris Energy from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Cantor Fitzgerald restated an “overweight” rating and issued a $23.00 target price on shares of Iris Energy in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. upgraded Iris Energy from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $15.00 to $12.00 in a research report on Thursday, March 13th. One equities research 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 company’s stock. According to MarketBeat, Iris Energy presently has a consensus rating of “Buy” and a consensus price target of $20.30.

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.