Highbridge Capital Management LLC Acquires Shares of 154,686 Iris Energy Limited (NASDAQ:IREN)

Highbridge Capital Management LLC acquired a new stake in Iris Energy Limited (NASDAQ:IREN) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 154,686 shares of the company’s stock, valued at approximately $1,519,000. Highbridge Capital Management LLC owned 0.08% of Iris Energy at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Baader Bank Aktiengesellschaft boosted its stake in Iris Energy by 66.7% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 125,000 shares of the company’s stock worth $1,228,000 after purchasing an additional 50,000 shares during the period. Vontobel Holding Ltd. raised its holdings in shares of Iris Energy by 13.4% in the fourth quarter. Vontobel Holding Ltd. now owns 55,923 shares of the company’s stock valued at $549,000 after buying an additional 6,601 shares during the last quarter. Main Management ETF Advisors LLC acquired a new stake in shares of Iris Energy during the third quarter worth about $760,000. Private Advisor Group LLC purchased a new position in shares of Iris Energy during the fourth quarter worth about $120,000. Finally, Geode Capital Management LLC increased its position in Iris Energy by 56.3% in the 3rd quarter. Geode Capital Management LLC now owns 735,071 shares of the company’s stock valued at $6,204,000 after acquiring an additional 264,883 shares during the period. 41.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on IREN. BTIG Research started coverage on Iris Energy in a research note on Friday, December 20th. They issued a “buy” rating and a $33.00 target price on the stock. B. Riley increased 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. Macquarie boosted their price objective on shares of Iris Energy from $13.50 to $19.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. HC Wainwright raised their target price on shares of Iris Energy from $16.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $23.00 price target on shares of Iris Energy in a research note on Thursday, February 13th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $20.40.

Iris Energy Stock Performance

Shares of IREN opened at $6.46 on Friday. Iris Energy Limited has a twelve month low of $4.15 and a twelve month high of $15.92. The firm’s 50-day moving average is $9.73 and its two-hundred day moving average is $10.08.

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 analysts’ consensus estimates 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, sell-side analysts predict that Iris Energy Limited will post 0.43 earnings per share for the current 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.