Highbridge Capital Management LLC Buys Shares of 154,686 Iris Energy Limited (NASDAQ:IREN)

Highbridge Capital Management LLC acquired a new stake in shares of Iris Energy Limited (NASDAQ:IREN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 154,686 shares of the company’s stock, valued at approximately $1,519,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Stonebridge Financial Group LLC acquired a new stake in shares of Iris Energy during the 4th quarter worth about $29,000. HM Payson & Co. purchased a new position in shares of Iris Energy during the fourth quarter valued at approximately $30,000. R Squared Ltd acquired a new stake in Iris Energy during the fourth quarter worth approximately $37,000. Farther Finance Advisors LLC acquired a new position in Iris Energy in the 4th quarter valued at $98,000. Finally, World Equity Group Inc. purchased a new position in shares of Iris Energy during the 4th quarter worth $98,000. Hedge funds and other institutional investors own 41.08% of the company’s stock.

Analyst Upgrades and Downgrades

IREN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised 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 report on Thursday, March 13th. B. Riley lifted their price target on Iris Energy from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Canaccord Genuity Group increased their price objective on shares of Iris Energy from $17.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $23.00 target price 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 note on Thursday, February 13th. One research 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. According to data from MarketBeat.com, Iris Energy has an average rating of “Buy” and an average target price of $20.40.

Iris Energy Price Performance

Shares of IREN stock opened at $6.46 on Friday. The company’s fifty day simple moving average is $9.73 and its 200-day simple moving average is $10.08. Iris Energy Limited has a 52 week low of $4.15 and a 52 week high of $15.92.

Iris Energy (NASDAQ:IREN) last issued its quarterly earnings data 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%. As a group, research analysts forecast that Iris Energy Limited will post 0.43 earnings per share for the current year.

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.