Parametrica Management Ltd Acquires Shares of 13,803 Iris Energy Limited (NASDAQ:IREN)

Parametrica Management Ltd acquired a new stake in Iris Energy Limited (NASDAQ:IREN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 13,803 shares of the company’s stock, valued at approximately $136,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Sippican Capital Advisors boosted its stake in Iris Energy by 15.1% in the 4th quarter. Sippican Capital Advisors now owns 12,780 shares of the company’s stock worth $126,000 after purchasing an additional 1,680 shares during the period. Drive Wealth Management LLC increased its holdings in shares of Iris Energy by 5.8% during the 4th quarter. Drive Wealth Management LLC now owns 39,690 shares of the company’s stock worth $390,000 after acquiring an additional 2,193 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Iris Energy during the 4th quarter worth about $29,000. HM Payson & Co. bought a new position in Iris Energy during the 4th quarter worth $30,000. Finally, R Squared Ltd acquired a new stake in shares of Iris Energy in the fourth quarter valued at approximately $37,000. 41.08% of the stock is owned by institutional investors.

Iris Energy Stock Down 3.8 %

Shares of IREN stock opened at $7.40 on Wednesday. Iris Energy Limited has a 52 week low of $4.15 and a 52 week high of $15.92. The stock has a fifty day moving average of $9.92 and a 200 day moving average of $10.13.

Iris Energy (NASDAQ:IREN) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.09 EPS for the quarter, beating 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%. Equities analysts anticipate that Iris Energy Limited will post 0.43 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IREN. B. Riley boosted their price target on Iris Energy from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Canaccord Genuity Group raised their price objective on Iris Energy from $17.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. BTIG Research started coverage on shares of Iris Energy in a research report on Friday, December 20th. They set a “buy” rating and a $33.00 price target on the stock. Macquarie boosted their target price on shares of Iris Energy from $13.50 to $19.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. raised Iris Energy from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $15.00 to $12.00 in a research note on Thursday, March 13th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $20.40.

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.