World Equity Group Inc. Makes New $98,000 Investment in Iris Energy Limited (NASDAQ:IREN)

World Equity Group Inc. purchased a new position in shares of Iris Energy Limited (NASDAQ:IREN) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 10,000 shares of the company’s stock, valued at approximately $98,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Van ECK Associates Corp boosted its holdings in shares of Iris Energy by 56.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,605,671 shares of the company’s stock worth $13,938,000 after buying an additional 576,726 shares in the last quarter. Regal Partners Ltd boosted its holdings in shares of Iris Energy by 2.7% during the 3rd quarter. Regal Partners Ltd now owns 875,303 shares of the company’s stock worth $7,388,000 after buying an additional 23,132 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Iris Energy by 56.3% during the 3rd 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 in the last quarter. Rush Island Management LP bought a new position in shares of Iris Energy during the 3rd quarter worth approximately $4,783,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Iris Energy by 8.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 362,026 shares of the company’s stock worth $3,055,000 after buying an additional 29,311 shares in the last quarter. 41.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IREN. HC Wainwright upped their target price on Iris Energy from $16.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $23.00 target price on shares of Iris Energy in a research report on Thursday, February 13th. Canaccord Genuity Group upped their target price on Iris Energy from $17.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. B. Riley upped their target price on Iris Energy from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $15.00 target price (up from $9.50) on shares of Iris Energy in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.70.

Iris Energy Price Performance

NASDAQ IREN opened at $10.16 on Tuesday. The business has a fifty day simple moving average of $11.46 and a 200 day simple moving average of $10.16. Iris Energy Limited has a 12 month low of $4.15 and a 12 month high of $15.92.

Iris Energy (NASDAQ:IREN) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.09 EPS for the quarter, beating 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 earnings per share 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.