Iris Energy Limited (NASDAQ:IREN) Shares Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd raised its holdings in shares of Iris Energy Limited (NASDAQ:IREN) by 592.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 206,706 shares of the company’s stock after purchasing an additional 176,843 shares during the period. Y Intercept Hong Kong Ltd owned 0.11% of Iris Energy worth $1,745,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. boosted its holdings in Iris Energy by 1,521.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 188,051 shares of the company’s stock worth $2,123,000 after acquiring an additional 176,451 shares in the last quarter. MKP Capital Management L.L.C. acquired a new position in Iris Energy during the 2nd quarter valued at approximately $3,139,000. X Square Capital LLC purchased a new position in shares of Iris Energy in the second quarter worth $508,000. VitalStone Financial LLC raised its stake in shares of Iris Energy by 467.1% in the second quarter. VitalStone Financial LLC now owns 79,285 shares of the company’s stock worth $895,000 after purchasing an additional 65,305 shares during the last quarter. Finally, Central Asset Investments & Management Holdings HK Ltd purchased a new stake in Iris Energy in the second quarter valued at $779,000. Hedge funds and other institutional investors own 41.08% of the company’s stock.

Iris Energy Stock Performance

IREN stock opened at $13.36 on Wednesday. Iris Energy Limited has a 1 year low of $3.56 and a 1 year high of $15.92. The business has a 50 day simple moving average of $10.38 and a 200-day simple moving average of $9.97.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IREN. Needham & Company LLC restated a “hold” rating on shares of Iris Energy in a research note on Wednesday, November 27th. Macquarie raised their price objective on shares of Iris Energy from $13.50 to $19.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. B. Riley lowered their price target on shares of Iris Energy from $17.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Canaccord Genuity Group lifted their price objective on shares of Iris Energy from $15.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Finally, Compass Point lowered their target price on shares of Iris Energy from $18.50 to $16.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.56.

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.