Paloma Partners Management Co Buys 218,940 Shares of Iris Energy Limited (NASDAQ:IREN)

Paloma Partners Management Co boosted its holdings in shares of Iris Energy Limited (NASDAQ:IREN) by 67.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 543,440 shares of the company’s stock after acquiring an additional 218,940 shares during the quarter. Paloma Partners Management Co’s holdings in Iris Energy were worth $5,337,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Baader Bank Aktiengesellschaft increased its position in Iris Energy by 66.7% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 125,000 shares of the company’s stock valued at $1,228,000 after buying an additional 50,000 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in shares of Iris Energy by 13.4% in the fourth quarter. Vontobel Holding Ltd. now owns 55,923 shares of the company’s stock valued at $549,000 after purchasing an additional 6,601 shares during the period. Private Advisor Group LLC acquired a new position in shares of Iris Energy in the fourth quarter valued at about $120,000. Geode Capital Management LLC boosted its stake in shares of Iris Energy by 56.3% in the third quarter. Geode Capital Management LLC now owns 735,071 shares of the company’s stock worth $6,204,000 after buying an additional 264,883 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Iris Energy by 62.2% in the third quarter. State Street Corp now owns 79,759 shares of the company’s stock worth $673,000 after buying an additional 30,576 shares during the last quarter. 41.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Iris Energy in a research 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 research report on Thursday, February 13th. Canaccord Genuity Group increased their price target on Iris Energy from $17.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. upgraded Iris Energy from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $15.00 to $12.00 in a research report on Thursday, March 13th. Finally, HC Wainwright increased their target price on Iris Energy from $16.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, February 13th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $20.40.

Iris Energy Stock Performance

Shares of NASDAQ IREN opened at $6.39 on Tuesday. The stock’s 50 day moving average price is $6.91 and its two-hundred day moving average price is $9.75. Iris Energy Limited has a 52-week low of $4.15 and a 52-week high of $15.92.

Iris Energy (NASDAQ:IREN) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.09 earnings per share 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, analysts anticipate that Iris Energy Limited will post 0.43 EPS for the current year.

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.