Trexquant Investment LP Lowers Stake in Iris Energy Limited (NASDAQ:IREN)

Trexquant Investment LP lessened its holdings in Iris Energy Limited (NASDAQ:IREN) by 41.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 401,453 shares of the company’s stock after selling 284,539 shares during the quarter. Trexquant Investment LP owned about 0.21% of Iris Energy worth $3,942,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in IREN. Arrowstreet Capital Limited Partnership boosted its position in shares of Iris Energy by 1,307.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,684,836 shares of the company’s stock worth $55,825,000 after purchasing an additional 5,280,999 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Iris Energy by 96.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 710,890 shares of the company’s stock valued at $6,981,000 after buying an additional 348,864 shares during the last quarter. Geode Capital Management LLC boosted its holdings in 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 acquiring an additional 264,883 shares in the last quarter. Calamos Advisors LLC purchased a new stake in shares of Iris Energy in the fourth quarter worth $1,899,000. Finally, Y Intercept Hong Kong Ltd increased its holdings in shares of Iris Energy by 592.2% during the third quarter. Y Intercept Hong Kong Ltd now owns 206,706 shares of the company’s stock valued at $1,745,000 after acquiring an additional 176,843 shares in the last quarter. Institutional investors own 41.08% of the company’s stock.

Iris Energy Trading Down 1.7 %

Shares of NASDAQ:IREN opened at $5.94 on Friday. The firm’s 50 day moving average price is $9.04 and its 200-day moving average price is $10.05. Iris Energy Limited has a twelve month low of $4.15 and a twelve month high of $15.92.

Iris Energy (NASDAQ:IREN) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.13. Iris Energy had a negative net margin of 17.94% and a negative return on equity of 3.98%. As a group, analysts predict that Iris Energy Limited will post 0.43 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IREN. BTIG Research began coverage on shares of Iris Energy in a research note on Friday, December 20th. They issued a “buy” rating and a $33.00 price target on the stock. JPMorgan Chase & Co. upgraded shares of Iris Energy from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $15.00 to $12.00 in a research note on Thursday, March 13th. Cantor Fitzgerald reissued 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 upped their price objective on Iris Energy from $17.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, B. Riley lifted their target price on Iris Energy from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $20.40.

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.