CCG Wealth Management LLC Invests $72,000 in Iris Energy Limited (NASDAQ:IREN)

CCG Wealth Management LLC bought a new stake in shares of Iris Energy Limited (NASDAQ:IREN) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 13,262 shares of the company’s stock, valued at approximately $72,000.

Several other institutional investors have also bought and sold shares of the business. Counterpoint Mutual Funds LLC purchased a new position in Iris Energy during the 4th quarter valued at about $84,000. Tucker Asset Management LLC purchased a new stake in shares of Iris Energy in the 3rd quarter valued at $47,000. Olympiad Research LP purchased a new stake in Iris Energy during the fourth quarter worth $173,000. Chesapeake Capital Corp IL purchased a new stake in Iris Energy during the fourth quarter worth $221,000. Finally, Commerce Bank purchased a new position in Iris Energy during the fourth quarter valued at $256,000. Institutional investors own 41.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on IREN shares. JPMorgan Chase & Co. increased their price objective on shares of Iris Energy from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th. B. Riley increased their target price on shares of Iris Energy from $9.50 to $18.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Cantor Fitzgerald raised shares of Iris Energy to a “strong-buy” rating in a research note on Wednesday, June 12th. Canaccord Genuity Group raised their price objective on shares of Iris Energy from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. Finally, HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Iris Energy in a research note on Thursday, May 16th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $16.33.

Iris Energy Trading Up 11.8 %

IREN stock traded up $1.33 during trading on Monday, hitting $12.62. The stock had a trading volume of 15,268,047 shares, compared to its average volume of 11,035,786. The company’s 50 day moving average price is $8.34 and its two-hundred day moving average price is $6.60. Iris Energy Limited has a 1-year low of $2.79 and a 1-year high of $14.95.

Iris Energy (NASDAQ:IREN) last posted its quarterly earnings data on Wednesday, May 15th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.04). The firm had revenue of $54.35 million for the quarter, compared to the consensus estimate of $58.41 million. Research analysts forecast that Iris Energy Limited will post 0.01 earnings per share for the current fiscal year.

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.