Paloma Partners Management Co Takes $2.74 Million Position in Iris Energy Limited (NASDAQ:IREN)

Paloma Partners Management Co purchased a new position in shares of Iris Energy Limited (NASDAQ:IREN) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 324,500 shares of the company’s stock, valued at approximately $2,739,000. Paloma Partners Management Co owned about 0.17% of Iris Energy at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Central Asset Investments & Management Holdings HK Ltd bought a new stake in shares of Iris Energy during the 2nd quarter valued at $779,000. Van ECK Associates Corp grew its stake in shares of Iris Energy by 56.1% during the third quarter. Van ECK Associates Corp now owns 1,605,671 shares of the company’s stock worth $13,938,000 after purchasing an additional 576,726 shares during the period. Vontobel Holding Ltd. grew its stake in shares of Iris Energy by 123.1% during the third quarter. Vontobel Holding Ltd. now owns 49,322 shares of the company’s stock worth $416,000 after purchasing an additional 27,212 shares during the period. Creative Planning increased its holdings in Iris Energy by 71.2% in the third quarter. Creative Planning now owns 457,625 shares of the company’s stock valued at $3,862,000 after purchasing an additional 190,300 shares during the last quarter. Finally, Campbell Capital Management Inc. acquired a new position in Iris Energy in the third quarter valued at about $608,000. 41.08% of the stock is currently owned by institutional investors and hedge funds.

Iris Energy Trading Up 9.0 %

IREN stock opened at $13.51 on Monday. The stock has a 50-day moving average price of $9.63 and a two-hundred day moving average price of $9.60. Iris Energy Limited has a 1 year low of $3.56 and a 1 year high of $15.75.

Analyst Ratings Changes

A number of brokerages have recently commented on IREN. Macquarie upped their price target on Iris Energy from $12.00 to $13.50 and gave the company an “outperform” rating in a research note on Friday, August 30th. B. Riley decreased their price objective on shares of Iris Energy from $17.00 to $12.00 and set a “buy” rating for the company in a report on Friday, September 13th. Cantor Fitzgerald increased their target price on shares of Iris Energy from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Roth Mkm began coverage on shares of Iris Energy in a report on Wednesday, October 2nd. They issued a “buy” rating and a $14.00 price target for the company. Finally, Compass Point lowered their price objective on shares of Iris Energy from $18.50 to $16.00 and set a “buy” rating for the company in a research report on Friday, August 30th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $16.33.

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.