Wealth High Governance Capital Ltda Sells 75,561 Shares of Iris Energy Limited (NASDAQ:IREN)

Wealth High Governance Capital Ltda lowered its stake in shares of Iris Energy Limited (NASDAQ:IREN) by 37.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 124,439 shares of the company’s stock after selling 75,561 shares during the period. Wealth High Governance Capital Ltda’s holdings in Iris Energy were worth $1,222,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in IREN. Rush Island Management LP bought a new stake in shares of Iris Energy during the 3rd quarter worth approximately $4,783,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Iris Energy by 96.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 710,890 shares of the company’s stock worth $6,981,000 after acquiring an additional 348,864 shares during the last quarter. Paloma Partners Management Co acquired a new position in shares of Iris Energy during the 3rd quarter worth approximately $2,739,000. Geode Capital Management LLC increased 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 acquiring an additional 264,883 shares during the last quarter. Finally, Calamos Advisors LLC acquired a new position in shares of Iris Energy during the 4th quarter worth approximately $1,899,000. Institutional investors own 41.08% of the company’s stock.

Iris Energy Price Performance

IREN opened at $7.05 on Wednesday. Iris Energy Limited has a 52-week low of $4.15 and a 52-week high of $15.92. The business’s fifty day moving average is $10.71 and its 200-day moving average is $10.16.

Iris Energy (NASDAQ:IREN) last released its earnings results on Wednesday, February 12th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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, research analysts expect that Iris Energy Limited will post 0.43 earnings per share for the current year.

Wall Street Analyst Weigh In

IREN has been the topic of a number of recent analyst reports. B. Riley boosted 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. BTIG Research initiated coverage on Iris Energy in a report on Friday, December 20th. They set a “buy” rating and a $33.00 target price on the stock. Needham & Company LLC reissued a “hold” rating on shares of Iris Energy in a report on Thursday, February 13th. Macquarie upped their price objective on Iris Energy from $13.50 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, 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 report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.70.

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.